Burbon Ltd. is a private company reporting under ASPE. The adjusted trial balance at its fiscal year end, December 31, 2021, is shown below: Instructions
a) Prepare a statement of retained earnings.
b) Journalize the closing entries.

Question

Burbon Ltd. is a private company reporting under ASPE. The adjusted trial balance at its fiscal year end, December 31, 2021, is shown below:  Instructions 
a) Prepare a statement of retained earnings.
b) Journalize the closing entries.

Quizplus · Accepted Answer

The Answer of Burbon Ltd. is a private company reporting under ASPE. The adjusted trial balance at its fiscal year end, December 31, 2021, is shown below:  Instructions 
a) Prepare a statement of retained earnings.
b) Journalize the closing entries.