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:
Q13: Prepaid Rent is a(n)_ account and has
Q21: Regarding the double-entry system,which of the following
Q46: In a perpetual inventory system,the physical count
Q48: Under the perpetual inventory system,the adjusting journal
Q72: A contract can only have one performance
Q118: The trial balance reports the balances of
Q145: Which of the following would be considered
Q177: The financial statement that reports assets,liabilities,and owner's
Q215: A trial balance is a list of
Q239: A company purchased inventory for $100,000 on