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In: Accounting

The following is the trial balance for Eazy Services, Inc.: Eazy Services, Inc. Trial Balance For...

The following is the trial balance for Eazy Services, Inc.:

Eazy Services, Inc.
Trial Balance
For the Year Ended December 31, 201X

DR

CR

Cash

$50,250

Accounts Receivable

27,900

Office Equipment

45,000

Accounts Payable

37,250

Common Stock

60,300

Dividends

2,500

Retained Earnings

00

Sales Revenue

70,000

Salary Expense

33,650

Operating Expense

8,250

167,550

167,550

Prepare an Income Statement, Statement of Changes in Stockholders’ Equity and a Balance Sheet. (Assume that the company issued $60,300 of common stock on January 2, 201X. The business started on January 2, 201X)

Explain the purpose of a post closing trial balance.

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Expert Solution

ekkarill92 answered 1 year ago
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