Acc557 Strayer Financial Accounting P4-3A Woods Company (FS, Post-Closing Trial Balance)

Note:  This problem uses Common stock, Retained Earnings, Dividends.

P4-3A 
The completed financial statement columns of the worksheet for Woods Company are shown below. 

(given information)

Instructions: 
a.  Prepare an income statement, a retained earnings statement, and a classified balance sheet. No additional common stock was issued during 2008. 
b.  Prepare the closing entries. (List multiple debit/credit entries in descending order of amount.) 
c.  Post the closing entries and rule and balance the accounts. Use T accounts. Income Summary is account No. 350. 
 d.  Prepare a post-closing trial balance. (If answer is zero, please enter 0, do not leave any fields blank.)  

BUY: P4-3A Woods Company