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Prepare an account form of balance sheet assuming that the

Selected accounts and related amounts for Case-It Co. for the fiscal year ended November 30, 2010, are presented in Problem 6-1A.

Instructions

1. Prepare a single-step income statement in the format shown in Exhibit 3.

2. Prepare a statement of owner's equity.

3. Prepare an account form of balance sheet, assuming that the current portion of the note payable is $8,000.

4. Prepare closing entries as of November 30, 2010.

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