Roth Company ended its fiscal year on July 31, 2014. The companys adjusted trial balance as of
Question:
Instructions
(a) Prepare the closing entries using page J15.
(b) Post to Retained Earnings and No. 350 Income Summary accounts. (Use the three-column form.)
(c) Prepare a post-closing trial balance at July31.
Transcribed Image Text:
Roth Company Adjusted Trial Balance July 31, 2014 No. Account Titles Debits Credits 10 Cash 112 Accounts Receivable 157 Equipment 167 Accumulated Depreciation-Equip. 20 Accounts Payable 208 Uncarned Rent Revenue 311 Common Stock 320 Retained Earnings 332 Dividends 404 Service Revenue 429 Rent Revenuc $ 9,840 8,140 15,900 S 5,400 2,220 3,800 18,000 20,260 12,000 64,000 6,500 7 Depreciation Expense 720 Salaries and Wages Expense 732 Utilities Expense 3,700 55,700 14,900 S120,180 $120,180
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a General Journal J15 Date Account Titles Ref Debit Credit July 31 Service Revenue 404 64000 Rent Re...View the full answer
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Related Book For
Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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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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