Question

A completed worksheet for The King Group is shown on the bottom of these two pages.


INSTRUCTIONS
1. Record balances as of December 31, 2016, in the ledger accounts.
2. Journalize (use 3 as the page number) and post the adjusting entries. Use account number 131 for Prepaid Advertising and the same account numbers for all other accounts shown on page 186 for Wells’ Consulting Services chart of accounts.
3. Journalize (use 4 as the page number) and post the closing entries.
4. Prepare a postclosing trial balance.
Analyze: How many accounts are listed in the Adjusted Trial Balance section? How many accounts are listed on the postclosing trialbalance?


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  • CreatedAugust 08, 2014
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