Question

After closing its accounts at October 31, 2013, Simmons Realty, Inc. had the following account balances:
Notes Payable ......... $2,000
Prepaid Rent .......... 975
Accounts Receivable ..... 2,450
Prepaid Insurance ..... 1,300
Accounts Payable ..... 300
Equipment ......... 1,800
Cash ............. $1,850
Service Revenue ..... 0
Retained Earnings ..... 1,075
Common Shares ..... 5,000
Salary Expense ..... 0
Prepare Simmons Realty’s post-closing trial balance at October 31, 2013. List accounts in proper order.


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  • CreatedJuly 08, 2015
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