From the adjusted trial balance in E 10, prepare the required closing entries for Alvin Cleaning Company,
Question:
From the adjusted trial balance in E 10, prepare the required closing entries for Alvin Cleaning Company, Inc.
Data From E10
Transcribed Image Text:
Alvin Cleaning Company, Inc. Adjusted Trial Balance August 31, 2010 Cash $ 4,750 Accounts Receivable 2,592 Prepaid Insurance 380 Prepaid Rent Cleaning Supplies 200 152 Cleaning Equipment Accumulated Depreciation-Cleaning Equipment 3,875 320 Truck 7,200 Accumulated Depreciation-Truck Accounts Payable 720 420 Wages Payable 295 Unearned Janitorial Revenue 1,590 Income Taxes Payable 900 Common Stock 4,000 Retained Earnings 11,034 Dividends 2,000 Janitorial Revenue 14,620 Wages Expense 5,680 Rent Expense Gas, Oil, and Other Truck Expenses 1,350 580 Insurance Expense 380 Supplies Expense 2,920 Depreciation Expense-Cleaning Equipment 320 Depreciation Expense-Truck Income Taxes Expense 720 800 $33,899 $33,899
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Related Book For
Financial and Managerial Accounting
ISBN: 978-1439037805
9th edition
Authors: Belverd E. Needles, Marian Powers, Susan V. Crosson
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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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