Preparing closing entries from an adjusted trial balance, Accounting Basics

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Preparing closing entries from an adjusted trial balance

Question: 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:

Requirements: 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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Accounting Basics: Preparing closing entries from an adjusted trial balance

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Accounting Basics: Preparing closing entries from an adjusted trial balance

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