Question
10. Below is the unadjusted trial balance for Sunnydale Corporation as of December 31, 2014: Pleasantville Corporation Adjusted Trial balance December 31, 2014 Debit Credit
10. Below is the unadjusted trial balance for Sunnydale Corporation as of December 31, 2014: Pleasantville Corporation Adjusted Trial balance December 31, 2014 Debit Credit Cash $ 10,000 Accounts Receivable 5,000 Prepaid Rent 3,000 Prepaid Insurance 2,000 Supplies 1,100 Investments 10,000 Land 25,000 Building 50,000 Accumulated Depreciation-Building $ 5,000 Accounts Payable 8,000 Unearned Revenue 3,500 Notes Payable 5,000 Common Stock 45,000 Retained Earnings 20,600 Dividends 1,000 Fees Earned 25,000 Wages Expense 2,500 Rent Expense 1,700 Utilities Expense 800 Total $ 112,100 $ 112,100 A. Prepare the closing entries. B. Prepare post-closing trial balance.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started