The ninth step in the accounting cycle is to prepare a post-closing trial balance. Only the permanent
Question:
The ninth step in the accounting cycle is to prepare a post-closing trial balance. Only the permanent accounts are listed on the post-closing trial balance.
Transcribed Image Text:
Roadrunner Delivery Service Post-Closing Trial Balance December 31, 20-- Cash in Bank Accts. Rec. City News Computer Equipment Office Equipment Delivery Equipment Accts. Pay.-Beacon Advertising Accts. Pay.-North Shore Auto Maria Sanchez, Capital Totals 21 125 00 1450 00 300000 200 00 12 000 00 75 00 11 650 00 26 050 00 37 775 00 37 775 00
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (4 reviews)
ANSWER Based on the information provided it appears that Roadrunner Delivery Service has completed t...View the full answer
Answered By
Aketch Cindy Sunday
I am a certified tutor with over two years of experience tutoring . I have a passion for helping students learn and grow, and I firmly believe that every student has the potential to be successful. I have a wide range of experience working with students of all ages and abilities, and I am confident that I can help students succeed in school.
I have experience working with students who have a wide range of abilities. I have also worked with gifted and talented students, and I am familiar with a variety of enrichment and acceleration strategies.
I am a patient and supportive tutor who is dedicated to helping my students reach their full potential. Thank you for your time and consideration.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Prepare the Post Closing Trial Balance by considering all balances as normal. An accountant prepared the following post-closing trial balance: Rhombic Repairs Co. Post-Closing Trial Balance March 31,...
-
The eighth step in the accounting cycle is to journalize and post the closing entries: Closing is the process of transferring the balances in the temporary accounts to the owners capital account. ...
-
In the following exercise, the assignment is to prepare a trial court brief. The assignment contains the memo from the supervising attorney, which includes all the available facts of the case....
-
In a bygone day, airlines issued discount tickets to students who would be willing to fly on a particular day, with no notice, at a discounted price, one needed to show proof of being of student. The...
-
Alphabet Toy Company has plans for a plant expansion and needs to raise additional capital to pay for the construction. The company is considering issuing seven-year, 6% mortgage bonds with a par...
-
A \(0.20-\mathrm{kg}\) rubber ball is dropped from a height of \(1.0 \mathrm{~m}\) onto a hard floor and bounces straight up. Assuming the speed with which the ball rebounds from the floor is the...
-
What are the effects of air infiltration in condensers ?
-
The following information is extracted from the bank statement and the accounting records of the Sun Corporation for the month of July 2007: 1. Cash balance from books, July 31 .......... $1,967.35...
-
At December 31, 2025, Novak had the following number of common and preferred shares. Common Preferred Authorized 564,000 60,000 Issued 188,000 10,000 Outstanding 179,000 10,000 I The dividends on...
-
Failure to follow accounting principles causes immense confusion, which in turn creates a number of problems for the organization. Those with vast experience in bookkeeping, however, are able to...
-
Period ending December 31 closing entries for Outback Guide Service are: Using your working papers, post the closing entries to the appropriate general ledger accounts and prepare a post-closing...
-
What is the value of preparing a post-closing trial balance?
-
Park Company acquires an 85%interest in Sunland Company on January 2, 2012. The resulting difference between book value and the value implied by the purchase price in the amount of $120,000 is...
-
Task Criteria 1. Identify the sources of finance to a company and the reward of the providers of that finance; 2. Discuss the sources and evaluation of risk; 3. Analyse the role of mergers and...
-
This problem seeks to determine the set of flows that minimizes the total cost of satisfying customer demand. The situation you can model in Excel and solve using Solver or LPSolve is depicted below...
-
A very small (point-like) source radiates 100 Watts average power as a symmetrical spherical wave. What is the intensity a distance 10 meters from the source
-
Explain the principles behind fiber optics and how they are used in communication systems. What advantages do fiber optics offer over traditional copper wires?
-
An investigation into an unknown object in space resulted in the following observations: It is made of rock. It has a round shape. What additional piece of information is required to confirm that the...
-
Write down an orthogonal basis for vector space P(5) of quintic polynomials under the inner product lf,g) = | f(t) g(t)dt -2
-
The packaging division of a company having considered several alternative package designs for the company's new product has finally brought down their choices to two designs of which only one has to...
-
Prepare a table that summarizes some of the key advantages and limitations of mail, e-mail, telephone, and personal interview approaches for administering questionnaires.
-
Would a firm want to subscribe to a shared cost data service if the same data were going to be available to competitors? Discuss your reasoning.
-
Explain how you might use different types of research (focus groups, observation, survey, and experiment) to forecast market reaction to a new kind of disposable baby diaper, which is to receive no...
-
Apply Euler's method by hand with N = 4 to find yo, Y1, Y2, Y3, Y4 on [0,1] where Y' y' = - 2y + 3t y(0) =1 Note: Please don't use Python for this. You are allowed to use a calculator do the...
-
What amount paid on September 6 is equivalent to $ 2 , 6 0 0 paid on the following December 1 if money can earn 6 . 6 % ? ( Use 3 6 5 days a year. Do not round intermediate calculations and round...
-
For R1= 6.8k, and R2= 1k, Then: V(1) = v V. 1(2) = mA.
Study smarter with the SolutionInn App