Question: Please use the below trial balance and complete the appropriate closing entries SCREEN SHOT IS BELOW.............................. Fanatical Fashions Adjusted Trial Balance At December 31, 2022

Please use the below trial balance and complete the appropriate closing entries

SCREEN SHOT IS BELOW..............................

Please use the below trial balance and complete the appropriate closing entriesSCREEN

Fanatical Fashions Adjusted Trial Balance At December 31, 2022 Account Debit Credit Cash $3,230,000 Accounts Receivable 1,240,000 Prepaid Insurance 189,000 Prepaid Rent 0 Buildings 3,540,300 Accumulated DepreciationBuilding $478,010 Accounts Payable 980,000 Wages Payable 656,000 Interest Payable 16,000 Note Payable 360,000 Common Stock 1,000,000 Sales Revenue 7,450,300 Rent Expense 740,000 Wage Expense 1,356,000 Utilities Expense 94,000 Depreciation ExpenseBuilding 1 18,010 Interest Expense 250,000 Insurance Expense m Totals 1 4 l 1 4 l 5. Use the above trial balance and complete the appropriate closing entries

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!