The unadjusted and adjusted trial balances of Sainte-C
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The unadjusted and adjusted trial balances of Sainte-Catherine Interior Design Co. as at September 30, 2014, follow: I
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The unadjusted and adjusted trial balances of Sainte-Catherine Interior Design Co. as at September 30, 2014, follow: Instructions (a) Prepare the adjusting journal entries that were made for the quarter. (b) Prepare an income statement and a statement of owner's equity for the three months ending September 30 and a balance sheet at September 30. (c) If the note bears interest at 5%, how many months has it been outstanding? Interest is payable at the beginning of the month. TAKING IT FURTHER A friend of yours is considering purchasing the company from Catherine Larocque and asks you to comment on the company's results of operations and its financial position. Is the company performing well or not? Does the financial position appear healthy or weak? Use specific information from the financial statements to support your answer.
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