Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3 of 5 The adjusted trial balance columns of the worksheet for Flounder Company are as follows Flounder Company Worksheet (Partial) For the Month Ended

3 of 5 The adjusted trial balance columns of the worksheet for Flounder Company are as follows Flounder Company Worksheet (Partial) For the Month Ended April 30, 2022 Adjusted Trial Balance Account Titles Dr. Cr. Cash 11.000 Accounts Receivable 7,980 Prepaid Rent 2.500 Equipment 22.950 Accumulated Depreciation-Equip 4.500 Notes Payable 5,700 Accounts Payable 5,000 Common Stock 21.230 Retained Earnings 7,400 Dividends 3,300 Service Revenue 16,000 Salaries and Wages Expense 10,600 @ 2 =3 a $ 1274 % 85 W E R S D X C FL MacBook Pro 66 T Y V & 48 7 G H B 0 8 Service Revenue Salaries and Wages Expense 10,600 Rent Expense 750 Depreciation Expense 750 Interest Expense 30 Interest Payable 30 Totals 59,860 59,860 (a) Journalize the closing entries at April 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Date Account Titles and Explanation Debit Credit B (1) Apt 30 R (2) 30 (To close revenue account) B (3) Apt 86 30 (To close expense accounts) B 41 Apr. 30 (To close expense accounts) Apr. 30 (To close net income/(loss)) (To close dividends) eTextbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Suit Antwer

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finance Construction 17 Corporate Ifrs Gaap Engineering Technologies No 10 501 11 000 Of 111 111 Laws

Authors: Tim Asikin, Steve Asikin

1st Edition

1078350590, 978-1078350594

More Books

Students also viewed these Accounting questions