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Preparing a multi step income statement journalizing closing entries and preparing a post closing trial balance Sylvias Music Company uses a perpetual inventory system The adjusted trial balance

Preparing a multi-step income statement, journalizing closing entries, and preparing a post-closing trial balance Sylvia’s Music Company uses a perpetual inventory system. The adjusted trial balance of Sylvia’s Music Company at June 30, 2016, follows:

Requirements

1. Prepare Sylvia’s multi-step income statement for the year ended June 30, 2016.

2. Journalize Sylvia’s closing entries.

3. Prepare a post-closing trial balance as of June 30, 2016.

Apr 21 2020 View more View Less

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