See the attachment for detailed instruction and guide…
The assignment is 50% completed, all the filled-in sections are correct. work does not have to be shown
1. Prepare journal entries for the transactions and adjustments listed above.
2. Prepare an updated December 31, 2020, trial balance, reflecting the journal entries in part(a)
3.Prepare a multiple-step income statement for the year ending December 31, 2020
4.Prepare a retained earnings statement for the year ending December 31, 2020
5.Prepare a classified balance sheet as of December 31, 2020