Worksheet data for Savaglia Company are presented In Exercise, In Exercise, Instructions (a) Journalize the closing entries
Question:
In Exercise,
Instructions
(a) Journalize the closing entries at April 30.
(b) Post the closing entries to Income Summary and Owners Capital. Use T-accounts.
(c) Prepare a post-closing trial balance at April30.
Transcribed Image Text:
SAVAGLIA COMPANY Worksheet (partial) For the Month Ended April 30, 2017 Adjusted Trial Balance Income Statement Balance Sheet Account Titles Dr Cr Cr Cash Accounts Receivable Prepaid Rent Equipment Accumulated 10,000 7,840 2,280 23,050 4,900 5,700 4,920 27,960 Depreciation -Equip Notes Payable Accounts Payable Owner's Capital Owner's Drawings Service Revenue Salaries and Wages Expense Rent Expense Depreciation Expense Interest Expense Interest Payable Totals 3,650 15,590 10,840 760 650 57 57 59,127 59,127
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a Apr 30 Service Revenue 15590 Income Summary 15590 30 Income Summary 123...View the full answer
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Related Book For
Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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