The April 30, 2012, adjusted trial balance of Steamed Sensation, Inc., is shown next. Requirements 1. Prepare
Question:
The April 30, 2012, adjusted trial balance of Steamed Sensation, Inc., is shown next.
Requirements
1. Prepare the April closing entries for Steamed Sensation, Inc.
2. Calculate the ending balance in Retained Earnings.
3. Prepare a post-closing trialbalance.
Transcribed Image Text:
Steamed Sensation, Inc. Adjusted Trial Balance April 30, 2012 ACCOUNT Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Unearned Service Revenue Salaries Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Depreciation Expense, Equipment Utilities Expense Supplies Expense Total DEBIT CREDIT $ 4.200 7,000 2,700 250 36,000 S 4,200 4,500 1,400 1,300 2,000 5,000 9,650 3,000 54,000 1,100 22,700 5,200 1,400 450 250 $83,150 83,150
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Req 1 Journal DATE ACCOUNTS POST REF Dr Cr Apr 30 Service revenue 54000 Interest revenue 1100 ...View the full answer
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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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