Complete the post-closing trial balance Links to an external site: Trial Balance should have an end total
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Complete the post-closing trial balance Links to an external site:
Trial Balance should have an end total of $84,175.
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Date | Description | PR | DR | CR | Trial Balance | Post-Closing Trial Balance | |||||||||
Closing Entries | Dec. 31st | Dec. 31st | |||||||||||||
31-Dec | Service Revenue | 68325 | Accounts | DR | CR | Accounts | DR | CR | |||||||
Income Summary | 68325 | Cash | 21825 | Cash | |||||||||||
Supplies | 1550 | Supplies | |||||||||||||
31-Dec | Income Summary | 33550 | Accounts Receivable | 13000 | Accounts Receivable | ||||||||||
Advertising Expense | 1850 | Prepaid Insurance | 4800 | Prepaid Insurance | |||||||||||
Interest Expense | 300 | Equipment | 43000 | Equipment | |||||||||||
Salaries Expense | 28000 | Accumulated Depreciation- Equipment | 1600 | Accumulated Depreciation- Equipment | |||||||||||
Utilities Expense | 1200 | Accounts Payable | 15000 | Accounts Payable | |||||||||||
Insurance Expense | 600 | Owner's Capital | 35000 | Owner's Capital | |||||||||||
Depreciation Expense- Equipment | 1600 | Owner's Withdrawals | 2200 | Owner's Withdrawals | |||||||||||
Service Revenue | 68325 | Service Revenue | |||||||||||||
31-Dec | Owner's Capital | 34775 | Advertising Expense | 1850 | Advertising Expense | ||||||||||
Income Summary | 34775 | Interest Expense | 300 | Interest Expense | |||||||||||
Salaries Expense | 28000 | Salaries Expense | |||||||||||||
31-Dec | Owner's Capital | 2200 | Utilities Expense | 1200 | Utilities Expense | ||||||||||
Owner's Withdrawals | 2200 | Insurance Expense | 600 | Insurance Expense | |||||||||||
Depreciation Expense- Equipment | 1600 | Depreciation Expense- Equipment | |||||||||||||
Totals | 119925 | 119925 | Totals |
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
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