Unadjusted trial balance shows the status of its accounts at the end of its first month of
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Question:
Unadjusted trial balance shows the status of its accounts at the end of its first month of
operations.
- Cash $5,000
- Accounts receivable 2,000
- Furniture and Equipment 14,000
- Accumulated depreciation, F&E 2,000
- Accounts Payable 4,000
- Prepaid insurance 1,200
- Capital, Paul 8,000
- Withdrawals, Paul 2,000
- Salaries and Wages expense 6,000
- Room sales 20,000
- Notes Payable 4,000
- Advertising expense 1,500
- Other operating expenses 4,000
- Housekeeping supplies inventory 1,800
- Interest expense 500
2.1 Journalize the year-end adjusting transactions below (a to e)
2.2 Complete the worksheet, using the following adjustments.
2.3 Using the updated figures from the worksheet, prepare closing entries
2.4 Make a post-closing trial balance
Related Book For
Accounting Principles Volume 1
ISBN: 978-1119502425
8th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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