Refer to the data for Alou Equipment Repair Corp. in P48A. Assume that Alou closes its books

Question:

Refer to the data for Alou Equipment Repair Corp. in P4âˆ’8A. Assume that Alou closes its books monthly.

Instructions
(a) Prepare the closing journal entries.
(b) Post the closing entries to the T accounts prepared in P4-8A.
(c) Prepare a post-closing trial balance at November 30.

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ISBN: 978-1118644942

6th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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Question Posted: Jan 11, 2017 09:54 AM

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Refer to the data for Alou Equipment Repair Corp. in P48A. Assume that Alou closes its books

Question:

Credit $15,580 15,820 4,000 18,000 Accounts receivable Supplies quipment Accumulated depreciation-equipment Accounts payable Salaries payable Unearned revenue Common shares Retained earnings 3,600 4,600 1,000 1,000 10,000 33,200 $53,400

Step by Step Answer:

a 2015 Nov 30 Service Revenue 16000 Income Summary 16000 30 Income Summary 10200 Salaries Expense 4600 Supplies Expense 3600 Rent Expense 600 Deprecia...View the full answer

Financial Accounting Tools for Business Decision Making

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