Wilson Engraving just completed operations for the year ending December 31, 2018. Accounts from the adjusted trial balance dated December 31, 2018 are listed in alphabetical order below:
Requirement:
a. Prepare the closing entries. Omit explanations.
b. Prepare, in good form, the income statement, statement of retained earnings, and balance sheet.
c. Compute the current ratio. Label your work. Comment on the current ratio.

Question

Wilson Engraving just completed operations for the year ending December 31, 2018. Accounts from the adjusted trial balance dated December 31, 2018 are listed in alphabetical order below:
  Requirement:
a. Prepare the closing entries. Omit explanations.
b. Prepare, in good form, the income statement, statement of retained earnings, and balance sheet.
c. Compute the current ratio. Label your work. Comment on the current ratio.

Quizplus · Accepted Answer

The Answer of Wilson Engraving just completed operations for the year ending December 31, 2018. Accounts from the adjusted trial balance dated December 31, 2018 are listed in alphabetical order below:
  Requirement:
a. Prepare the closing entries. Omit explanations.
b. Prepare, in good form, the income statement, statement of retained earnings, and balance sheet.
c. Compute the current ratio. Label your work. Comment on the current ratio.

Wilson Engraving Just Completed Operations for the Year Ending December