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Prepare an income statement and an owners equity statement

Poblano Co. was organized on July 1, 2010. Quarterly financial statements are prepared. The unadjusted and adjusted trial balances as of September 30 are shown below.

Instructions

(a) Journalize the adjusting entries that were made.

(b) Prepare an income statement and an owner's equity statement for the 3 months ending September 30 and a balance sheet at September 30.

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Accounting Basics: Prepare an income statement and an owners equity statement

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