The account balances alphabetically listed below are for Furst Company as of December 31, 2013. These balances include the effect of adjusting entries. Required:
a) Prepare an adjusted trial balance for Furst Company.
b) Prepare journal entries for Furst's closing entries for the year.
c) Prepare an income statement for Furst Company for 2013.
d) What was the balance in Retained Earnings after the closing entries had been made and posted?

Question

The account balances alphabetically listed below are for Furst Company as of December 31, 2013. These balances include the effect of adjusting entries.  Required:
a) Prepare an adjusted trial balance for Furst Company.
b) Prepare journal entries for Furst's closing entries for the year.
c) Prepare an income statement for Furst Company for 2013.
d) What was the balance in Retained Earnings after the closing entries had been made and posted?

Quizplus · Accepted Answer

The Answer of The account balances alphabetically listed below are for Furst Company as of December 31, 2013. These balances include the effect of adjusting entries.  Required:
a) Prepare an adjusted trial balance for Furst Company.
b) Prepare journal entries for Furst's closing entries for the year.
c) Prepare an income statement for Furst Company for 2013.
d) What was the balance in Retained Earnings after the closing entries had been made and posted?

The Account Balances Alphabetically Listed Below Are for Furst Company