Exercise 291 The adjusted trial balance shown below is for Rich Company at the end of its fiscal year: RICH COMPANY Trial Balance March 31, 2017 Debit $12.900 9.400 700 2.500 16.000 $4.500 5.800 Cash Accounts Receivable Supplies Prepad Insurance Ement Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Uneamed Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense 15.000 5.600 5,800 34,600 18.100 1,800 12,000 1,500 1.200 $81,900 $81.900 Prepare the closing entries for the temporary accounts at March 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Ac h es and Explanatic To close revenue accounts.) (Todose expense accounts.) (te dese income (o )) (o dos dividends account.) Exercise 277 Prepare adjusting entries for the following transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) 1. Depreciation on equipment is $1,340 for the accounting period. 2. Interest owed on a loan but not paid or recorded is $275. 3. There was no beginning balance of supplies and $550 of office supplies were purchased during the period. At the end of the period $100 of supplies were on hand. Prepaid rent had a $1,000 normal balance prior to adjustment. By year end $700 had expired. 5. Accrued salaries at the end of the period amounted to $900. No. Account Titles and Explanation Debit Credit