The adjusted trial balance columns of the worksheet for DeSousa Company are as follows. The owner did
Fantastic news! We've Found the answer you've been seeking!
Question:
The adjusted trial balance columns of the worksheet for DeSousa Company are as follows. The owner did not make any additional investments in the business in April.
For the month ended April 30, 2017 Adjusted trial balance
account titles | Debit | Credit |
---|---|---|
Cash | 10,000 | |
Accounts Receivable | 7,840 | |
Prepaid Rent | 2,280 | |
Equipment | 23,050 | |
Accumulated Depreciation- Equip | 4,921 | |
Notes Payable (due in 1 year) | 5,700 | |
Accounts payable | 4,920 | |
Common Stock | 20,000 | |
Retained Earnings | 7,960 | |
Dividends | 3,650 | |
Service revenue | 15,590 | |
Salaries and Wages Expense | 10,840 | |
Rent expense | 760 | |
Depreciation Expense | 671 | |
Interest Expense | 57 | |
Interest payable | 57 | |
totals | 59,148 | 59,418 |
a. Prepare an Income statement.
b. Post the closing entries to the income summary and Retained Earnings.
c. Prepare a post-closing trial balance at April 30.
Related Book For
Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
Posted Date: