Using the information in E4-22, prepare the post-closing trial balance for Diane's Dairy Sales & Delivery. Data
Question:
Using the information in E4-22, prepare the post-closing trial balance for Diane's Dairy Sales & Delivery.
Data from E4-22.
Diane's Dairy Sales & Delivery finished its first year of operations on December 31, 2018. After adjusting journal entries, the company presented the following adjusted trial balance.
Diane's Dairy Sales & Delivery Adjusted Trial Bałance At December 31 Account Debit Cred t $ 833,000 Cash Accounts Rece vable 179,000 Suppl es 83,000 Prepaid Insurance 13.000 Prepaid Rent 30,000 Equipment 350,000 $ 30,000 Accumulated Depreciation Equipment Accounts Payab e 150,500 Wages Payable 24,000 Unearned Revenue 12,000 Notes Payable, due 2019 80,000 Common Stock 1,000,000 Retained Earnings Dv dends 12,000 Sales Revenue 1,000,500 Wage Expense 320,000 Utility Expense 32 000 Seli ng Expense 122,500 Admnistrative Expense 192.500 nsurance Expense 14,000 Suppl es Expense 85.000 Deprec at on Expense -Equpment 31,000 Totals $2,297,000 $2,297,000
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Intermediate Accounting
ISBN: 978-0134730370
2nd edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Related Video
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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