Refer to PE 4-16. Prepare a post-closing trial balance. For this exercise, ignore the adjustments described in
Question:
Refer to PE 4-16. Prepare a post-closing trial balance. For this exercise, ignore the adjustments described in PE 4-16; just use the reported trial balance.
PE 4-16
Before any adjusting entries were made, the company prepared the following trial balance as of December 31:
Credit $ 68,000 126,000 216,000 290,000 Cash Notes Receivable Prepaid Rent Building Accounts Payable Unearned Fee Revenue Capital Stock Retained Earnings $ 150,000 270,000 150,000 100,000 17,000 370,000 Fee Revenue Wages Expense Utilities Expense . 244,000 79,000 $1,040,000 . Totals $1,040,000
Step by Step Answer:
POST CLOSING TRIAL BALANCE Account title Debit Credit ...View the full answer
Financial Accounting
ISBN: 978-0324645576
10th edition
Authors: W. Steve Albrecht, James D. Stice, Earl K. Stice
Related Video
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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