Question: Help Me SOLVEIT Problem 4-4A Closing entries LO2, 3, 4 CHECK FIGURE: 2. Post-closing trial balance = $122,000 MY Autobody's adjusted trial balance on December
Help Me SOLVEIT Problem 4-4A Closing entries LO2, 3, 4 CHECK FIGURE: 2. Post-closing trial balance = $122,000 MY Autobody's adjusted trial balance on December 31, 2020, appears in the work sheet as follows: No. Account 101 124 128 167 168 201 210 301 302 401 612 623 637 640 650 690 Cash Shop supplies. Prepaid insurance Equipment. Accumulated depreciation, equipment Accounts payable Wages payable Mike Yang, capital Mike Yang, withdrawals. Repair revenue Depreciation expense, equipment Wages expense Insurance expense. Rent expense Office supplies expense Utilities expense Totals Debit Credit $ 28,000 1.800 4,200 88,000 $ 7,500 19.000 8,860 140,000 36,000 157.630 8.500 104,500 1,900 52,350 4,800 2,940 $332.990 $332,990 Required 1. Prepare closing entries. 2. Prepare the post-closing trial balance at December 31, 2020
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
