Bill Smith opened Smith Construction on April 1, 2010. Review the transactions and financial position of Smith Construction for April in the Excel Template.
- Enter the transactions for May into the accounting equation, calculating new balances after each entry.
- Prepare the Income Statement for the month of May.
- Prepare the Statement of Retained Earnings for the Month of May.
- Prepare the Balance Sheet as of May 31, 2010.
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