The adjusted trial balance for Cortez Company at December 31, 2024 is presented below: Cash Accounts...
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The adjusted trial balance for Cortez Company at December 31, 2024 is presented below: Cash Accounts receivable Prepaid rent Supplies Equipment Accumulated depreciation Accounts payable. Salaries payable Interest payable Notes payable (due in two years) Common stock Retained earnings Dividends Accounts Service revenue Salaries expense Advertising expense Rent expense Depreciation expense Interest expense Utilities expense Totals Debit $ 20,000 155,000 9,000 26,000 390,000 29,000 186,000 71,000 15,000 31,000 2,200 39,000 $ 973,200 Credit $ 125,000 12,000 3,400 1,900 27,000 190,000 193,900 420,000 $ 973,200 Prepare the closing entries for Cortez Company for the year ended December 31, 2024 The adjusted trial balance for Cortez Company at December 31, 2024 is presented below: Cash Accounts receivable Prepaid rent Supplies Equipment Accumulated depreciation Accounts payable. Salaries payable Interest payable Notes payable (due in two years) Common stock Retained earnings Dividends Accounts Service revenue Salaries expense Advertising expense Rent expense Depreciation expense Interest expense Utilities expense Totals Debit $ 20,000 155,000 9,000 26,000 390,000 29,000 186,000 71,000 15,000 31,000 2,200 39,000 $ 973,200 Credit $ 125,000 12,000 3,400 1,900 27,000 190,000 193,900 420,000 $ 973,200 Prepare the closing entries for Cortez Company for the year ended December 31, 2024
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Related Book For
Interpreting and Analyzing Financial Statements
ISBN: 978-0132746243
6th edition
Authors: Karen P. Schoenebeck, Mark P. Holtzman
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