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 owner's equity,and balance sheet.There were no new capital contributions during the year.
c.Compute the current ratio.Label your work.Comment on the current ratio.
Definitions:
Discretion
The freedom to decide what should be done in a particular situation, often implying judgment and prudence in making such decisions.
Acts Of Misconduct
Behaviors or actions that are improper, unethical, or violate established norms, often in a professional context.
Police Culture
The set of shared values, behaviors, and beliefs within police forces that influences their attitudes and practices.
Sympathy
The feelings of pity and sorrow for someone else's misfortune.
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