You are to prepare the closing journal entries at the end ofthe fiscal year, December 3 1
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You are to prepare the closing journal entries at the end ofthe fiscal year, December and post to the closing trialbalance. Complete the worksheet Journalize Closing Entries Post to the General Ledgers Prepare a post closing trial balance Prepare Financial StatementsRichards Cleanning ServicesWORKSHEETAccount Titles Adjusted Trial Balance Income Statement Balance SheetDr Cr Dr Cr Dr CrCash Accounts Recievable Supplies Prepaid Insurance Equipment Accum Depr. Equipment Buildings Accum Depr. Buildings Accounts Payable Notes Payable Richards Owner's Equity Richards WithdrawlsDrawing Service Revenue Rent Expense Salaries Expense Supplies Expense Depr. Expense Equipment Depr. Expense Buildings Net IncomeGENERAL JOURNAL Page Date Account Titles and Description PR Dr CrGENERAL LEDGERCashACCOUNT NODate Explanation PostRef. Debit Credit BalanceDebit CreditDec BalanceAccounts Receivable ACCOUNT NODate Explanation PostRef. Debit Credit BalanceDebit CreditDec BalanceSupplies ACCOUNT NODate Explanation PostRef. Debit Credit BalanceDebit CreditDec BalancePrepaid Insurance ACCOUNT NODate Explanation PostRef. Debit Credit BalanceDebit CreditDec BalanceEquipmentDate Explanation PostRef. Debit Credit BalanceDebit CreditDec BalanceBuildingsDate Explanation PostRef. Debit Credit BalanceDebit CreditDec BalanceGENERAL LEDGERAccum Depr Equipment ACCOUNT NODate Explanation PostRef. Debit Credit BalanceDebit CreditDec BalanceAccum Depr Buildings ACCOUNT NODate Explanation PostRef. Debit Credit BalanceDebit CreditDec BalanceAccounts Payable ACCOUNT NODate Explanation PostRef. Debit Credit BalanceDebit CreditDec BalanceNotes Payable ACCOUNT NODate Explanation PostRef. Debit Credit BalanceDebit CreditDec. BalanceRichards Owner's EquityDate Explanation PostRef. Debit Credit BalanceDebit CreditDec. BalanceRichards WithdrawalsDrawingDate Explanation PostRef. Debit Credit BalanceDebit CreditDec. BalanceService RevenueDate Explanation PostRef. Debit Credit BalanceDebit Credit
Related Book For
Interpreting and Analyzing Financial Statements
ISBN: 978-0132746243
6th edition
Authors: Karen P. Schoenebeck, Mark P. Holtzman
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