Question: Question 6 (15 points) The adjusted trial balance shown below is for Rich Company at the end of its fiscal year: RICH COMPANY Trial Balance



Question 6 (15 points) The adjusted trial balance shown below is for Rich Company at the end of its fiscal year: RICH COMPANY Trial Balance March 31, 2011 Debit Credit $12,900 9,400 Cash Accounts Receivable Office Supplies Prepaid Insurance Office Equipment Accumulated 700 2,500 16,000 Depreciation-Office $ 4,800 Equipment Accounts Payable Salaries Payable Unarned Rent Revenue 5,800 1,100 600 10,000 Common Stock Retained Earnings 5,600 3,800 Dividends 39,600 Service Revenue 14,400 Rent Revenue 20.100 Salaries expense Vice SupPpies Prepaid Insurance Office Equipment 2,500 16,000 Accumulated Depreciation Office $ 4,800 Equipment Accounts Payable Salaries Payable Unearned Rent Revenue 5,800 1,100 600 Common Stock 10,000 Reained Earnings Dividends Service Revenue Rent Revenue Salaries expense Office Supplies Expense Rent Expense Insurance Expense Depreciation Expense 5,600 3,800 39,600 14,400 20,100 1,800 12,000 1,500 1200 $81,900 $81,900 Instructions: Prepare the 4 closing entries for the temporary accounts at March 31 Prepare the 4 closing entries for the temporary accounts at March 31. Answer format: 1. Account Title DR 240, Account Title CR 240 (That's 2 spaces after the period following the entry number.) For multiple debit or credit accounts: 1. Account Title DR 10, Account Title DR 20, Account Title CR 30 Ay A/ AV Next Page Previous Page
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
