Question: 403 (Algo) - Based on Problem 4-2A LO C1, P1, P2 unadjusted trial balance for Taylor Construction Company at its June 30 current fiscal year-end,

403 (Algo) - Based on Problem 4-2A LO C1, P1, P2 unadjusted trial balance for Taylor Construction Company at its June 30 current fiscal year-end, is found on the trial balance tab. credit balance of the G. Taylor, Capital account was $32,000 on June 30 of the prior year, and the owner invested $50,000 cash Eg the current fiscal year. mation for adjustments is as follows: upplies available at the end of the current fiscal year total $3,800. ost of expired insurance for the current fiscal year is $2,900. annual depreciation on equipment is $27,600. une utilities expense of $1,100 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared The $1,100 amount owed must be recorded. Employees have earned $4,650 of accrued and unpaid wages at fiscal year-end Rent expense incurred and not yet paid or recorded at fiscal year-end is $1,800 Additional property taxes of $1,550 have been assessed for this fiscal year but have not been paid or recorded at fiscal year-end. $450 accrued interest for June has not yet been paid or recorded. Requirement General Journal General Ledger Trial Balance Income Statement St Owners Equity Balance Sheet Post Closing Prepare the required adjusting entries and closing entries for Taylor Construction Company
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
