Use the accounts shown on the next two pages to prepare a Dec. 31 post-closing trial balance
Question:
Use the accounts shown on the next two pages to prepare a Dec. 31 post-closing trial balance for Hot Suds Car Wash.
Transcribed Image Text:
Cash in Bank Credit Accounts Receivable- Valley Auto Debit Credit + Balance 5,050 Debit + Balance 8,000 Office Furniture Credit Accounts Payable- Allen Vacuum Systems Debit Credit Balance 41,000 Regina Delgado, Capital Debit Credit Closing 1,500 35,925 Closing 16,000 Debit + Balance 9,000 Accounts Receivable- Linda Brown Debit Credit Balance 875 Office Equipment Credit Car Wash Equipment Debit Credit + Balance 65,000 Accounts Payable- O'Brian's Office Supply Debit Credit Balance 2,500 Regina Delgado, Withdrawals Debit Credit Balance 1,500 Closing 1,500 Debit + Balance 6,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
Based on the provided information here is the Dec 31 postclosing trial balance for Ho...View the full answer
Answered By
User l_917591
As a Business Management graduate from Moi University, I had the opportunity to work as a tutor for undergraduate students in the same field. This experience allowed me to apply the theoretical knowledge I had gained in a practical setting, while also honing my teaching and communication skills.
As a tutor, I was responsible for conducting tutorial sessions, grading assignments and exams, and providing feedback and support to my students. I also assisted with the preparation of course materials and collaborated with other tutors and professors to ensure consistency in teaching and assessment.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
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
Students also viewed these Business questions
-
The general ledger for Hot Suds Car Wash shows the following account balances on May 31, the end of the period. Instructions Prepare a work sheet for Hot Suds Car Wash in your working papers. 101 105...
-
The trial balance for the Hot Suds Car Wash is listed below and in your working papers. 1. Complete the work sheet in your working papers. 2. Prepare an income statement for the quarter ended...
-
Prepare the Post Closing Trial Balance by considering all balances as normal. An accountant prepared the following post-closing trial balance: Rhombic Repairs Co. Post-Closing Trial Balance March 31,...
-
2. C. b. d. e. a. A proposed public project would produce the following pattern of individual benefits and costs. Revise only the cost shares of individuals C and E to meet the Pareto Criterion. (7...
-
Spring Water Company Ltd. needed to raise $5 million of additional capital to finance the expansion of its bottled water facility. After consulting an investment banker, it decided to issue bonds....
-
Nova Companys total overhead costs at various levels of activity are presented below: Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The...
-
The following information is taken from the annual report of The Lincoln Electric Company. Calculate the ratio of the allowance for uncollectible accounts divided by gross accounts receivable for...
-
Assume that Timekiller, Inc., manufactures a new electronic game console. The current standard costs sheet for a game console follows: Direct materials, ? kilograms at $4 per kilogram . . . . $ ? per...
-
eBook Calculate the APR and REAR of non-free trade credit associated with credit terms of 2/20, net 65, and 1.5/30, net 90, assuming that customers who do not take the discount a. pay on the last due...
-
Margie Van Epps established Health Services, P.C., a professional corporation, in March of the current year. Health Services offers healthy living advice to its clients. The effect of each...
-
After the closing entries have been journalized, follow this procedure: Post them to the general ledger. For each posted entry, enter the words Closing Entry in the Description column of the...
-
Compare and contrast the closing entry for an expense account and the closing entry for the withdrawals account.
-
Derive the equation of motion of the block of mass m1 in terms of its displacement x (see Figure). The friction between the block and the surface is negligible. The pulley has negligible inertia and...
-
Sunland plans to sell 1880 computers in April, 1800 in May; and 1880 in June. The company keeps 15% of the next month's sales as ending inventory. How many units should Sunland produce in May?
-
Solitary Confinement Reform Act. 1. Start to identify the issues that Solitary Confinement Reform Act has caused (3-4 issues/problems) a. What is the issue or problem with Solitary Confinement Reform...
-
3. Consider the finite choice set C = {1, s, c, b}, with the following descriptions of four cars: | = little sports car s = snow car (good in snow) c = comfortable car b = big boring SUV. Suppose...
-
O Notice f = 2 tan- (2t + t) dt is a composite function f(g(x)) where g = 2x. [f(2x)] = f'(2x) (2x)'. Apply this idea to find Recall from differential calculus that d 2x3 dx [ tan(2+ + - t) dt]. dx...
-
What is the effective rate of a credit card charging 18.0% interest annually, but compounded daily? 2. If my company takes a 1-month loan for $12,000 that charges 5.5% annually, what is my effective...
-
Three particles are moving perpendicular to a uniform magnetic field and travel on circular paths (see the drawing). The particles have the same mass and speed. List the particles in order of their...
-
X-1 Find the domain of the function f(x) : x 1 2 - O (-00, -1) U (-1, ) O (-00, 1) U (1, ) O -00, -1) U (-1, 1) U (1, 0) O (- 1, 1)
-
Explain some of the different aspects of the customer experience that could be managed to improve customer satisfaction if you were the marketing manager for: ( a ) an airport branch of a rental car...
-
Is there any difference between a brand name and a trademark? If so, why is this difference important?
-
Is a well-known brand valuable only to the owner of the brand?
-
The capital expenditures budget includes all but which one of these items? a. Raw materials b. Machinery O c. Land d. Buildings
-
4. Post hoc analysis Suppose a researcher is interested in the potential connection between church attendance and social class in his community. He selects random samples of people from each social...
-
Finally, run at least 2 different, appropriate regressions predicting the variable you indicated in Q10. These regressions should use different predictor(s). Organize and explain your code within the...
Study smarter with the SolutionInn App