Preparing closing entries from an adjusted trial balance; preparing a post-closing trial balance; and calculating the current ratio Marty’s Bowling Alley’s adjusted trial balance as of December 31, 2016 is presented below:
1. Prepare the closing entries for Marty’s Bowling Alley.
2. Prepare a post-closing trial balance.
3. Compute the current ratio for Marty’s Bowling Alley
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