Question: Using the Adjusted Trial Balance below, prepare a) The General Journal Closing entries for Shonas Real Estate (10 marks) b) A Post-closing Trial Balance for

Using the Adjusted Trial Balance below, prepare a) The General Journal Closing entries for Shonas Real Estate (10 marks) b) A Post-closing Trial Balance for Shonas Real Estate (5 marks) Shonas Real Estate List of Account Balances As at 30 June 2020 Cash at Bank 67,400 Shona, Capital 146,500 Loan Payable 74,300 Accounts Receivable 2,100 Revenue 143,000 Supplies 2,000 Motor Vehicles 89,000 Accumulated Depreciation- Motor Vehicles 8,200 Rent Expense 80,000 Unearned Revenue 1,700 Prepaid Advertising 1,200 Shona, Drawings 45,500 Accounts Payable 17,500 Wages Expense 97,500 Advertising Expense 6,500

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!