Question: Apachi Company ended its fiscal year on July 31, 2010. The company??s adjusted trial balance as of the end of its fiscal year is as

Apachi Company ended its fiscal year on July 31, 2010. The company??s adjusted trial balance as of the end of its fiscal year is as shown at the top of page 182.

Instructions(a) Prepare the closing entries using page J15.(b) Post to B. J. Apachi, Capital and No. 350 Income Summary accounts. (Use the three-column form.)(c) Prepare a post-closing trial balance at July31.

APACHI COMPANY Adjusted Trial Balance July 31, 2010 Debits Credits No. Account Titles $ 14,840 8,780 15,900 Cash 101 112 Accounts Receivable Equipment Accumulated Depreciation Accounts Payable Unearned Rent Revenue 157 $ 7.400 167 201 4.220 208 1.800 45.200 301 B.J. Apachi, Capital B.J. Apachi, Drawing Commission Revenue 306 16,000 404 65.000 429 711 Rent Revenue 6,500 Depreciation Expense Salaries Expense Utilities Expense 4,000 720 55.700 732 14.900 $130,120 $130,120

Step by Step Solution

★★★★★

3.36 Rating (162 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a General Journal J15 Date Account Titles Ref Debit Credit July 31 Commission Revenue 404 65000 Rent ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

47-B-A-A-C (156).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

Apachi Company ended its fiscal year on July 31, 2011. The companys adjusted trial balance as of the end of its fiscal year is as shown at the top of page 186. Instructions (a) Prepare the closing...

Turner Company ended its fiscal year on July 31, 2012. The company's adjusted trial balance as of the end of its fiscal year is as shown below. Instructions (a) Prepare the closing entries using page...

Roth Company ended its fiscal year on July 31, 2014. The companys adjusted trial balance as of the end of its fiscal year is as shown below. Instructions (a) Prepare the closing entries using page...

Exercise 4-9 Okabe Company ended its fiscal year on July 31, 2017. The company's adjusted trial balance as of the end of its fiscal year is shown below. OKABE COMPANY Adjusted Trial Balance July 31,...

Exercise 4-08 a-c (Video) Ayayai Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. No. Debit Credit 101 $8,000...

Aridgaport Company ended its fiscal year on July 31, 2022. The companys adjusted trial balance as of the end of its fiscal year is shown as follows. (a) Your answer is correct. (To close tevenue...

rt 1 Exercise 4-08 a-c (Part Level Submission) (Video) Crane Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fisca Crane Company Adjusted...

please help! thank you! Ivanhoe Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows Credit No. 101 112 157 158 201 208...

Prepare the closing entries Question 5 of 7 Crane Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its focaly follows. No. 101 Credit Crane...

Carla Vista Company ended its fiscal year on July 31, 2022. The company's adjusted trial balance as of the end of its fiscal year is as follows. Carla Vista Company Adjusted Trial Balance July 31,...

A red blood cell has a mass of about 0.000000000027 g. Convert this mass to an appropriate SI prefix and unit, so the number portion does not need a decimal place (i.e. an integer number). Your...

For two events A and B, the following probabilities are given. P(A) = A P(B) = .25 P(A|B) = .7 Use the appropriate laws of probability to calculate (a) P() (b) P(AB) (c) P(A U B)

What is the difference between a short-term contract method and a long-term contract method for reporting revenue?

Coffee shops. Bernice wants to open a chain of coffee shops and begins by asking her friends in various states around the country to invest through the purchase of securities in the coffee shops. Her...

In a section 351 transaction where the shareholder transfers property (basis of $10, FMV of $20) subject to a business debt (debt of $3) to a corporation in which he receives only the corporations...

The fractional_part function divides the numerator by the denominator, and returns just the fractional part (a number between 0 and 1). Complete the body of the function so that it returns the right...

2. Replacement decision: use the following information to determine the replacement value of the building and property. The building measures 600 x 300 feet , 3 stories high and would cost $ 200 per...

How does the organization of an optical disk differ from the organization of a magnetic disk?

Faye Dunn defines contribution margin as the amount of profit available to cover operating expenses. Is there any truth in this definition? Discuss.

Find the pdf of.. [15 pt] Let X have the pdf P(x) = TER. *(1+x2 Find the pdf of Y = X2

question 27 What is the right sequence for a pecking order? Order the sequence that a firm uses according to the Pecking Order Hypothesis. New common stock Accruals and accounts payable Retained...

Give an example of a multiple regression with two dichotomous independent variables and a continuous dependent variable. Use your example to explain the concept of multi-colinearity.