Bern Co., Inc. was organized on July 1, 2011. Quarterly financial statements are pie- pared. The…
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Bern Co., Inc. was organized on July 1, 2011. Quarterly financial statements are pie- pared. 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 a retained earnings statement for the 3 months ending September 30 and a statement of financial position at September 30.(c) If the note bears interest at 12%, how many months has it beenoutstanding?
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Bern Co Inc was organized on July 1 2011 Quarterly
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