The September 30, 2018, adjusted trial balance of Buzzy?s, Inc., is shown next. Requirements 1. Prepare the September closing entries for Buzzy?s, Inc. 2. Calculate
The September 30, 2018, adjusted trial balance of Buzzy?s, Inc., is shown next.
Requirements
1. Prepare the September closing entries for Buzzy?s, Inc.
2. Calculate the ending balance in Retained Earnings.
3. Prepare a post-closing trial balance.
Buzzy's, Inc. Adjusted Trial Balance September 30, 2018 ACCOUNT DEBIT CREDIT $ 4,700 1,100 2,400 Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable 625 38,000 $ 3,200 900 Unearned Service Revenue 675 Salaries Payable Notes Payable 1,250 5,000 7,500 Common Stock Retained Earnings 12,100 8,400 Dividends Service Revenue 63,000 Interest Revenue 450 Salaries Expense Rent Expense Depreciation Expense, Equipment Utilities Expense Supplies Expense 28,400 6,250 2,100 1,325 775 $94,075 $94,075 Total
Step by Step Solution
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Req 1 Journal DATE ACCOUNTS POST REF Dr Cr Sep 30 Service revenue 63000 Interest revenue 4... View full answer
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Financial Accounting
Authors: Robert Kemp, Jeffrey Waybright
5th edition
134727797, 9780134728643 , 978-0134727790
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