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Mel’s Bowling Alley’s adjusted trial balance as of December 31,

Mel’s Bowling Alley’s adjusted trial balance as of December 31, 2014 is presented below.


Mel’s Bowling Alley’s adjusted trial balance as of December 31,


Requirements
1. Prepare the closing entries for Mel’s Bowling Alley.
2. Prepare a post-closing trial balance.
3. Compute the current ratio for Mel’s BowlingAlley.
Transcribed Image Text:

MEL'S BOWLING ALLEY Adjusted Trlal Balance December 31, 2014 Balance Account Title 15,400 2,310 Accounts Receivable Office Supplies Prepad Insurance Accumulated Depreciation-Equipment 5 12.000 Accumulated Depreciation--Building 4,500 15,000 Accounts Payable Ubilities Payable Salaries Payable Unearned Revenue Common Stock Retained Earrings 3400 2,840 1300 100,000 30,325 28,000 Service Revenue Insurance Expense Salaries Expense Supplies Expense Ubilities Expense 94,000 12,000 $248,985 $248,985

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Requirement 1 Date Accounts and Explanation Debit Credit Dec. 31 Service Revenue 94,000 Income Summa…View the full answer

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Related Book For answer-question
Horngrens Financial and Managerial Accounting

Horngrens Financial and Managerial Accounting

4th Edition

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

ISBN: 978-0133255584

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