The unadjusted and adjusted trial balances of White Company as of December 31, 2012, are presented below.
Question:
Required:
1. Prepare the journal entries that are required to adjust the accounts at December 31, 2012.
2. Prepare the journal entry that is required to close the accounts at December 31,2012.
Transcribed Image Text:
White Company December 31, 2012 Unadjusted Credits Debits Credits 1 1 Accounts Receivable.*. 5 Prepaid Insurance.*.. S 9,350 Income Taxes Payable.... 65,000 Consulting Fees Earned. . 142,380 92,335 4 Insurance Expense Income Tax Expense S301,500 $301,500 S308,380 $308,380
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Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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