The December 31, 2011, adjusted trial balance of Business Solutions (reflecting its transactions from October through December
Question:
The December 31, 2011, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2011) follows.
Required
1. Record and post the necessary closing entries for Business Solutions.
2. Prepare a post-closing trial balance as of December 31,2011.
Account Title Debit Credit 10 Cash 06 Accounts receivablei 126 Computer supplies.... 128 Prepaid insurance rent WO444 163 Office equipment S 400 167 Computer equipment... 1,500 73,000 236 Unearned computer services revenue . 30 S. Rey. Capital 302 .Rey. Withdrawals 403 Computer services revenue 612 Depreciation expense Office equipment equipment 640 Rent expense 652 Computer supplies expense ····· .. 0 $109034 $109.034 Totals ..
Step by Step Answer:
1 2 Closing entries 2011 Dec 31 Computer Services Revenue Income S...View the full answer
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Related Video
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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