The following adjusted trial balance contains the accounts and balances of Showers Company as of December 31,
Question:
The following adjusted trial balance contains the accounts and balances of Showers Company as of December 31, 2011, the end of its fiscal year.
(1) Prepare the December 31, 2011, closing entries for Showers Company.
(2) Prepare the December 31, 2011, post-closing trial balance for ShowersCompany.
No. Account Title Debit Credit 10 Cash 2.000 2,000 23,000 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment . 301 R Showers, Capital.. 302 R Showers,Withdrawals 404 Services revenue 61 2 Depreciation expense-Equipment····.. . . 622 Salaries expense 637 Insurance expense 640 Rent expense . 652 Supplies expense... $ 6,500 46,600 6,000 36,000 2,000 21,000 1,500 2400 1.200_ $89.100 $89.100 Totals...
Step by Step Answer:
1 2011 Dec 31 Services Revenue 36000 Income Summary 36000 To close the ...View the full answer
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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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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