As the bookkeeper for Potter Cleaning Service, a. From the trial balance columns of the worksheet on
Question:
As the bookkeeper for Potter Cleaning Service,
a. From the trial balance columns of the worksheet on page 228, enter the beginning balance of each account before adjustments in your working papers.
b. Journalize and post adjusting entries.
c. Journalize and post closing entries.
d. From the ledger (after all posting is complete), prepare a post-closing trial balance at March 31, 2022.
Account Titles Cash Prepaid Insurance Cleaning Supplies Auto Accum. Depreciation, Auto Accounts Payable B. Potter, Capital B. Potter, Withdrawals Cleaning Fees Salaries Expense Telephone Expense Advertising Expense Gas Expense Insurance Expense Cleaning Supplies Expense Depreciation Expense, Auto Accrued Salaries Net Income Trial Balance Dr. 40000 52000 14400 272000 46000 144000 CHE 26400 19600 16000 630400 Cr. 86000 22400 54000 468000 630400 POTTER CLEANING SERVICE WORKSHEET FOR THE MONTH ENDED MARCH 31, 2022 Adjustments Dr. (D) 16000 (A) 18 000 (B) 10000 ** (C) 15000 59000 Cr. ||| (A) 18000 (B) 10000 (C) 15000 (D) 16000 59000 Adjusted Trial Balance Dr. Cr. 40000 # 34000 TT 4400 272000 46000 160000 A 26400 19600 16000 18000 10000 *** 15000 661400 101000 A 22400 54 000 468000 16000 661400 Income Statement Dr. 160000 H 26400 19600 16000 18000 10000 15000 26 5000 203000 468000 Cr. 468000 Balance Sheet Dr. 40000 HE 34000 4400 272000 46000 468000 396400 468000 396400 Cr. 101000 H 22400 -- 54000 16000 193400 --- 203000 396400
Step by Step Answer:
POTTER CLEANING SERVICE GENERAL JOURNAL Date 2022 Account Title and Description Post Ref Dr Cr Adjus...View the full answer
College Accounting A Practical Approach
ISBN: 9780135222416
14th Canadian Edition
Authors: Jeffrey Slater, Debra Good
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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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