The trial balance columns of the worksheet for Dixon Company at June 30, 2022, are as follows.
Question:
The trial balance columns of the worksheet for Dixon Company at June 30, 2022, are as follows.
Instructions
a. Prepare the closing entries using page Jl5.
b. Post to Owner's Capital and No. 350 Income Summary accounts. (Use the three-column form.)
c. Prepare a post-closing trial balance at July 31.
Dixon Company Worksheet For the Month Ended June 30, 2022 Account Titles Cash Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Owner's Capital Service Revenue Salaries and Wages Expense Miscellaneous Expense Trial Balance Dr. Cr. 2,320 2,440 1,880 560 160 7,360 1,120 240 3,600 2,400 7,360
Step by Step Answer:
ANSWER Account Title Debit Credit Service Revenue 64000 Rent Revenue 6500 Income Summary 70...View the full answer
Accounting Principles
ISBN: 9781119707110
14th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
Related Video
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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