Question: I need help with a post-closing balance no ency is role, SC Debit Credit 7900 7900 Date Account Titles and Explanation July 31 Service Revenue




no ency is role, SC Debit Credit 7900 7900 Date Account Titles and Explanation July 31 Service Revenue Income Summary (To close revenue account) July 31 Income Summary 3600 290 Maintenance and Repairs Expense 580 Supplies Expense 180 Depreciation Expense 150 Insurance Expense 2400 4300 July 31 Salaries and Wages Expense (To close expense accounts) Income Summary Retained Earning (To close net income to retained earnings) Retained Earning 600 July 31 600 Dividends (To close dividends to retained earnings) 7/1 7/21 2,000 1,800 1,500 2,000 290 600 7/31 Bal. 1,600 7/12 7/25 7/31 7/31 Bal. Cash 12,000 7/1 1,600 775 7/18 7/20 7/31 7/31 5,410 Accounts Receivable 3,7007/21 2,500 1.700 6,300 Supplies 9007/31 320 Prepaid Insurance 1.800 7731 1.650 Equipment 8.000 8,000 Accumulated Depreciation Equipment 7/31 7731 Bal Accounts Payable 1.500 | 7/1 580 773 7/31 Bal 150 775 7/31 Bal 7/1 7/31 Bal. 180 180 6,000 7/18 180 7/18 6,000 900 5,400 7/31 Bal. Accounts Payable 1,500 | 7/1 7/3 7/31 Bal. Salaries and Wages Payable 7/31 7/31 Bal. Common Stock 7/1 7/31 Bal. Retained Earnings 400 400 12.000 12.000 7/31 v 600 7/31 v 4,300 V 7/31 Bal. 3.700 Dividends 7/31 600 600 7/31 Bal v 7/31 600 Income Summary 7/31 3.600 7/31 7.900 7/31 4.300 7/31 Bal 4300 Service Revenue 7/12 3,700 7/25 2.500 TOT 7/31 v 7.900 7/31 Bal. 7.900 Maintenance and Repairs Expense 7/31 290 290 7/31 Bal. 7/31 V 290 Supplies Expense 7/31 580 7/31 Bal V 580 7/31 580 Depreciation Expense 7/31 180 7/31 Bal. 180 7/31 V 180 Insurance Expense 7131 150 7/31 Be. 150 7/31 V 150 Salaries and Wages Expense 7/20 2.000 7/31 400 7:31 Bal 2,400 7/31 2400 Prepare a post-closing trial balance at July 31. KLEENE WINDOW WASHING INC. Post-Closing Trial Balance Debit Credit $ $ $ $
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
