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Question - Ms Kate Morris is the sole owner of Meowster, a pet service store that offers temporary accommodation and bathing services for cats. Following is Meowster's Adjusted Trial Balance prepared on 30 June 2018.
Meowster Adjusted Trial Balance as at 30 June 2018
Cash at Bank
Pet Bathing Supplies
Machines - Professional Pet Dryer
Long - Term Bank Loan
Kate Morris, Capital
Kate Morris, Drawings
Bathing Service Revenue
Accommodation Service Revenue
Pet Bathing Supplies Expense
Interest Expense - Bank Loan
(a) Prepare closing entries; no narration required.
(b) Prepare the fully classified Statement of Financial Position in the narrative format, based on the post-closing balances (you are not required to show the post - closing trial balance).
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