The adjusted trial balance columns of the work sheet for Boss Nass Company, owned by Boss Nass, are as follows.
(a) Complete the work sheet by extending the balances to the financial statement columns.
(b) Prepare an income statement, a retained earnings statement, and a classified balance sheet. (Note: $10,000 of the notes payable become due in 2003.)
(c) Prepare the closing entries. Use J14 for the journal page.
(d) Post the closing entries.
-Use the three-column form of account.
-Income Summary is account No. 350.
(e) Prepare a post-closing trial balance.
Prepare a post-closing trial balance.