Jozefs Roofing Services showed the following post-closing trial balance after the posting of the closing entries on
Question:
Required
1. Identify the error(s) in the post-closing trial balance.
2. What entry is required to correct the error(s)?
3. Calculate the correct balance at June 30, 2017, for Jozef Jones, Capital.
Transcribed Image Text:
Debit Credit Cash.. . $ 21,000 Accounts receivable.. 36,000 Equipment. Accumulated depreciation, equipment... 59,500 $ 12,000 Trucks.. 138,000 66,000 Accumulated depreciation, trucks Accounts payable... 19,200 Jozef Jones, capital.. 216,200 59,900 Jozef Jones, withdrawals. Interest income.... 1,150 Other expenses. 150 Totals.. $314,550 $314,550
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1 Jozef Jones Withdrawals Interest income and Other Expenses have not ...View the full answer
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Related Book For
Fundamental Accounting Principles Volume 1
ISBN: 9781259259807
15th Canadian Edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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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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