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    Preparing comparative balance sheet and income statement

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    Question #1 Prepare the balance sheet and income statement trial balances.
    (The trial balances are attached: There are two tabs, one for 2007 and one for 2006.)
    Note: All balances should be in one column, therefore taking the credits and moving them to the debit column and making them negative. For example, in 2006, Acct 11500 Allowance for Doubtful Accounts is a credit $1,262,819.88. You need to move this to the debit column and make is a negative ($1,262,819.88).

    Question #2 Prepare a comparative (i.e., two-year) balance sheet & comparative income statement.

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    Solution Summary

    The solution prepares comparative balance sheet, income statement and trial balances.