The adjusted trial balance for Victoria Lee Company for the year ended June 30, 2024, follows. Instructions
Question:
The adjusted trial balance for Victoria Lee Company for the year ended June 30, 2024, follows.
Instructions
a. Prepare closing entries at June 30, 2024.
b. Prepare a post-closing trial balance.
Transcribed Image Text:
Cash Accounts receivable Supplies Accounts payable Unearned revenue Salaries payable V. Lee, capital V. Lee, drawings Service revenue Salaries expense Miscellaneous expense Supplies expense VICTORIA LEE COMPANY Adjusted Trial Balance June 30, 2024 Debit $ 3,712 3,904 480 550 1,260 256 1,900 $12,062 Credit $ 1,382 160 460 5,760 4,300 $12,062
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Related Book For
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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