The following trial balance of Weng Company is shown below: Unadjusted Trial Balance Adjusted Trial Balance...
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The following trial balance of Weng Company is shown below: Unadjusted Trial Balance Adjusted Trial Balance Post-Closing Trial Balance 49,500 49,500 369,900 369,900 80,100 6,750 67,500 18,000 49,500 477,000 202,500 63,000 Weng, drawing Weng, capital Prepaid advertising Prepaid rent Rent expense Royalty income Salaries expense Unearned royalty income Accounts Receivable Accumulated Depreciation Advertising expense Cash Depreciation expense Equipment Salaries payable Supplies Supplies expense Accounts Payable 432,000 171,000 103,500 9,900 58,500 270,000 337,500 14,400 9,000 45,000 14,400 76,500 73,350 270,000 18,000 337,500 31,500 3,150 20,250 45,000 Required: Prepare the following: a. Prepare the adjusting entries made by the company b. Prepare the closing entries made by the company. 433,600 6,750 18,000 63,000 14,400 76,500 270,000 337,500 31,500 3,150 45,000 The following trial balance of Weng Company is shown below: Unadjusted Trial Balance Adjusted Trial Balance Post-Closing Trial Balance 49,500 49,500 369,900 369,900 80,100 6,750 67,500 18,000 49,500 477,000 202,500 63,000 Weng, drawing Weng, capital Prepaid advertising Prepaid rent Rent expense Royalty income Salaries expense Unearned royalty income Accounts Receivable Accumulated Depreciation Advertising expense Cash Depreciation expense Equipment Salaries payable Supplies Supplies expense Accounts Payable 432,000 171,000 103,500 9,900 58,500 270,000 337,500 14,400 9,000 45,000 14,400 76,500 73,350 270,000 18,000 337,500 31,500 3,150 20,250 45,000 Required: Prepare the following: a. Prepare the adjusting entries made by the company b. Prepare the closing entries made by the company. 433,600 6,750 18,000 63,000 14,400 76,500 270,000 337,500 31,500 3,150 45,000
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Answer rating: 100% (QA)
a Adjusting Entries are as follows Prepaid Advertising Debit Prepaid Advertising Ac 73350 Credit Advertising Expenses Ac 73350 To adjust prepaid adver... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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