The balance sheet debit column of the worksheet for Shaw Company includes the following accounts: Accounts Receivable $12,500; Prepaid Insurance $3,600; Cash $4,100: Supplies $5,200, and Short-term Investments $6.700. Prepare the current assets section of the balance sheet, listing the accounts in proper sequence.

Instructions

(a) Prepare closing entries at June 30.2012.

(b) Prepare a post-closing trial balance.

Transcribed Image Text:

WILLOW TURENNE COMPANY Adjusted Trial Balance For the Month Ended June 30, 2012 Adjusted Trial Balance Account Titles Debits Credits Cash $3,712 Accounts Receivable Supplies Accounts payable Unearned Service Revenue Owner's Capital Owner's Drawings Service Revenues Salaries and Wages Expense Miscella neous expense Supplies expense Salaries and Wages payable 3,904 480 $1,556 160 5,760 628 4,300 1,344 256 1,900 448 $12,224 $12,224 WILLOW TURENNE COMPANY Adjusted Trial Balance For the Month Ended June 30, 2012 Adjusted Trial Balance Account Titles Debits Credits Cash $3,712 Accounts Receivable Supplies Accounts payable Unearned Service Revenue Owner's Capital Owner's Drawings Service Revenues Salaries and Wages Expense Miscella neous expense Supplies expense Salaries and Wages payable 3,904 480 $1,556 160 5,760 628 4,300 1,344 256 1,900 448 $12,224 $12,224

Answer rating: 100% (QA)

Current asset A asset is said to be a current asset when such a... View the full answer