1) The adjusted trial balance of Williams Landscaping at December 31, 2019 is as follows: Debit Credit...
Question:
1) The adjusted trial balance of Williams Landscaping at December 31, 2019 is as follows:
| Debit | Credit |
Cash | $15,000 | |
Accounts Receivable | 30,000 | |
Prepaid Insurance | 7,500 | |
Supplies | 3,200 | |
Land | 40,000 | |
Building | 160,000 | |
Accumulated Depreciation--Building | | $12,000 |
Equipment | 75,000 | |
Accumulated Depreciation--Equipment | | 8,500 |
Accounts Payable | | 12,000 |
Salaries Payable | | 2,000 |
Unearned Revenue | | 25,000 |
Mortgage Payable | | 100,000 |
Williams, Capital | 21,290 | |
Williams, Withdrawals | 23,000 | |
Service Revenue | | 289,000 |
Salaries Expense | 61,000 | |
Depreciation Expense--Building and Equipment | 6,150 | |
Supplies Expense | 14,040 | |
Insurance Expense | 14,000 | |
Utilities Expense | 20,900 | ________ |
Total | $469,790 | $469,790 |
There were no new capital contributions during the year. Using the information above, prepare a post-closing trial balance for Williams Landscaping (dated December 31, 2019).
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver