Problem 4-4A Closing entries LO2, 3 The adjusted trial balance for Lloyd Construction as of December 31, 2023, follows: No. 101 104 126 149 167 168 173 174 183 193 201 203 233 251 301 302 401 406 606 612 623 633 637 652 688 690 Cash Current investments Supplies Notes receivable Equipment Accumulated depreciation, equipment Building Accumulated depreciation, building Land Account Franchise Accounts payable Interest payable Unearned professional revenue Long-term notes payable Amar Lloyd, capital Amar Lloyd, withdrawals Professional revenue Rent revenue Depreciation expense, building Depreciation expense, equipment Wages expense Interest expense Insurance expense Supplies expense Telephone expense Utilities expense Totals Debit $ 15,300 20,300 6,900 38,500 71,000 Required Prepare the closing entries made at the end of the year. 253,000 82,500 27,500 2,300 19,300 7,300 63,300 540 17,300 12,100 3,700 6,500 $647,340 Credit $ 34,500 137,500 16,300 120 26,300 125,000 85,640 199,480 22,500 $647,340 An analysis of other information reveals that Lloyd Construction is required to make a $41,500 payment on the long-term notes payable during 2024. The notes receivable are due May 1, 2025. Also, Amar Lloyd invested $68,000 cash early in 2023. Page 316

Problem 4.4A Closing entries LO2,13 The adjusted trial balance for Lloyd Construction as of December 31, 2023, follows: An analysis of other information reveals that Lloyd Construction is required to make a $41,500 payment on the longterm notes payable during 2024. The notes receivable are due May 1, 2025. Also, Amar Lloyd invested \$68,000 cash early in 2023