The adjusted trial balance for Hercules Company is presented below. Instructions a. Prepare the closing entries. b.
Question:
The adjusted trial balance for Hercules Company is presented below.
Instructions
a. Prepare the closing entries.
b. Prepare T accounts for the accounts affected by the closing entries. Post the closing entries.
c. Prepare a post-closing trial balance at August 31, 2024.
Cash Accounts receivable Equipment Accumulated depreciation-equipment Accounts payable Unearned revenue S. Strong, capital S. Strong, drawings Service revenue Rent revenue HERCULES COMPANY Adjusted Trial Balance August 31, 2024 Depreciation expense Salaries expense Utilities expense Debit $10,900 6,200 10,600 12,000 2,700 37,100 10,100 $89,600 Credit $ 5,400 2,800 1,200 31,700 42,400 6,100 $89,600
Step by Step Answer:
a b c Aug 31 Service Revenue Rent Revenue Income Summary To close revenue ...View the full answer
Accounting Principles Volume 1
ISBN: 9781119786818
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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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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