The adjusted trial balance of Pamela Potter Theater Company at April 30, 2024, follows: Requirements 1. Prepare
Question:
The adjusted trial balance of Pamela Potter Theater Company at April 30, 2024, follows:
Requirements
1. Prepare Pamela Potter’s multi-step income statement for the year ended April 30, 2024.
2. Journalize Pamela Potter’s closing entries.
3. Prepare a post-closing trial balance as of April 30, 2024.
PAMELA POTTER THEATER COMPANY Adjusted Trial Balance April 30, 2024 Account Title Cash Accounts Receivable Merchandise Inventory Estimated Returns Inventory Office Supplies Furniture Accumulated Depreciation-Furniture Accounts Payable Refunds Payable Salaries Payable Unearned Revenue Notes Payable, long-term Potter, Capital Potter, Withdrawals Sales Revenue Sales Discounts Forfeited Cost of Goods Sold Selling Expense Administrative Expense Interest Expense Total Balance Debit $ 3,800 39,500 17,000 200 800 40,000 39,000 73,200 19,200 14,500 1,400 $ 248,600 Credit $ 8,400 12,800 400 1,100 7,100 12,000 23,800 182,880 120 $ 248,600
Step by Step Answer:
1 2 3 PAMELA POTTER THEATER COMPANY Income Statement Year Ended April 30 2024 Net ...View the full answer
Horngrens Accounting The Financial Chapters
ISBN: 9780136162186
13th Edition
Authors: Tracie Miller Nobles, Brenda Mattison
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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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