Business Finance Homework Help

Instructions

Think about the different types of financial statements that you learned about in this unit (i.e., income statement, owner’s equity statement, and balance sheet). If you were an investor, would you place more emphasis on any one particular financial statement? Why, or why not?

Your journal entry must be at least 400 words in length. No references or citations are necessary.

Instructions

Natalie had a very busy December. At the end of the month, after journalizing and posting the December transactions and adjusting entries, Natalie prepared the following adjusted trial balance.

Using the information from the adjusted trial balance, complete the tasks below.

1. Prepare an income statement and an owner’s equity statement for the 2 months ended December 31, 2019, and a classified balance sheet as of December 31, 2019. The note payable has a stated interest rate of 6%, and the principal and interest are due on November 16, 2021.
2. Natalie has decided that her year-end will be December 31, 2019. Prepare and post-closing entries as of December 31, 2019.
3. Prepare a post-closing trial balance.

Make sure to complete item “a” completely before moving to item “b,” and then move to item “c.” You cannot jump ahead unless you have completed each step sequentially in full.

Submit the Excel document in Blackboard upon completion.