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You are given the following data for the proprietorship of R. Black.
Black contributed $5,000 capital during the year.
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Required: |
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1. |
Prepare an income statement for the year. |
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2. |
Prepare a statement of proprietor’s capital for the year in the following format: |
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3. |
Prepare a balance sheet at December 31, 2016. |
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4. |
Prepare closing entries at year-end. |
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