Kay Magill Company had the following adjusted trial balance. Instructions (a) Prepare closing entries at June 30,
Question:
Kay Magill Company had the following adjusted trial balance.
Instructions
(a) Prepare closing entries at June 30, 2014.
(b) Prepare a post-closing trialbalance.
Transcribed Image Text:
KAY MAGILL COMPANY Adjusted Trial Balance For the Month Ended June 30, 2014 Adjusted Trial Balance Credit Account Titles Debit Cash Accounts Reccivable Supplies Accounts Payable Unearned Service Revenue Owner's Capital Owner's Drawings Service Revenue Salaries and Wages Expense Miscellaneous Expense Supplies Expense Salaries and Wages Payable 3,712 3,904 480 $ 1,556 160 5,760 628 4,300 1,344 256 1,900 448 $12,224 $12,224
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a Service Revenue 4 300 Income Summary 4 300 Income Summary 3 500 Salaries and Wages Expense 1 3…View the full answer
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Related Book For
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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