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Why does an accountant need to make income statement

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Reference no: EM132712337

Problem 1. Why does an accountant need to make income statement?

Problem 2. How does a statement of owner's equity depend on an income statement?

Problem 3. How does a balance sheet depend on a statement of owner's equity?

Problem 4. Why is closing entries an important part of the accounting cycle?

Problem 5. What is listed in the post-closing trial balance?

Reference no: EM132712337

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