The adjusted trial balance for Pharoah Company is given below. PHAROAH COMPANY Trial Balance August 31,...

 

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The adjusted trial balance for Pharoah Company is given below. PHAROAH COMPANY Trial Balance August 31, 2017 Before After Adjustment Adjustment Dr. Cr. Dr. Cr. Cash $11,860 $11,860 Accounts Receivable 8,080 8,800 Supplies 2,810 1,740 Prepaid Insurance 4,080 2,870 Equipment 17,000 17,000 Accumulated Depreciation-Equipment $3,825 $5,025 Accounts Payable 5,700 5,700 Salaries and Wages Payable 1,390 Unearned Rent Revenue 2,130 1,260 Common Stock 17,710 17,710 Retained Earnings 5,230 5,230 Dividends 2,590 2,590 Service Revenue 34,940 35,660 Rent Revenue 13,920 14,790 Salaries and Wages Expense 16,810 18,200 Supplies Expense 1,070 Rent Expense 20,225 20,225 Insurance Expense 1,210 Depreciation Expense 1,200 $83,455 $83,455 $86,765 $86,765 Prepare the closing entries for the temporary accounts at August 31. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Aug. 31 (To close revenue accounts) Aug. 31 (To close expense accounts) Aug. 31 (To close income / (loss)) Aug. 31 (To close dividends) The adjusted trial balance for Pharoah Company is given below. PHAROAH COMPANY Trial Balance August 31, 2017 Before After Adjustment Adjustment Dr. Cr. Dr. Cr. Cash $11,860 $11,860 Accounts Receivable 8,080 8,800 Supplies 2,810 1,740 Prepaid Insurance 4,080 2,870 Equipment 17,000 17,000 Accumulated Depreciation-Equipment $3,825 $5,025 Accounts Payable 5,700 5,700 Salaries and Wages Payable 1,390 Unearned Rent Revenue 2,130 1,260 Common Stock 17,710 17,710 Retained Earnings 5,230 5,230 Dividends 2,590 2,590 Service Revenue 34,940 35,660 Rent Revenue 13,920 14,790 Salaries and Wages Expense 16,810 18,200 Supplies Expense 1,070 Rent Expense 20,225 20,225 Insurance Expense 1,210 Depreciation Expense 1,200 $83,455 $83,455 $86,765 $86,765 Prepare the closing entries for the temporary accounts at August 31. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Aug. 31 (To close revenue accounts) Aug. 31 (To close expense accounts) Aug. 31 (To close income / (loss)) Aug. 31 (To close dividends)

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