Shown below is D. Diesel Company's adjusted trial balance at the end of its annual accounting...

 

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Shown below is D. Diesel Company's adjusted trial balance at the end of its annual accounting period (December 31, 2022). Account Debit Credit Cash $15,000 Accounts Receivable 15,000 Office Supplies 14,300 Office Equipment 50,600 Accumulated Depreciation, $37,000 Equipment Long Term Notes Payable 50,000 D. Diesel, capital 20,000 D. Diesel, withdrawals 8,000 Service Revenue 71,000 Salary expense 32,500 Rent expense 31,200 Depreciation expense, equipment 5,000 Advertising expense 3,600 Office Supplies expense 2,800 Totals $178,000 $178,000 Required: (Two parts) PART 1 Prepare the necessary closing entries on December 31. **You do not need to provide explanations for the journal entries.** Date Account Titles Debit Credit Shown below is D. Diesel Company's adjusted trial balance at the end of its annual accounting period (December 31, 2022). Account Debit Credit Cash $15,000 Accounts Receivable 15,000 Office Supplies 14,300 Office Equipment 50,600 Accumulated Depreciation, $37,000 Equipment Long Term Notes Payable 50,000 D. Diesel, capital 20,000 D. Diesel, withdrawals 8,000 Service Revenue 71,000 Salary expense 32,500 Rent expense 31,200 Depreciation expense, equipment 5,000 Advertising expense 3,600 Office Supplies expense 2,800 Totals $178,000 $178,000 Required: (Two parts) PART 1 Prepare the necessary closing entries on December 31. **You do not need to provide explanations for the journal entries.** Date Account Titles Debit Credit

Answer rating: 100% (QA)

Here are the closing entries 123122 Service Reve... View the full answer