Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A completed worksheet for The King Group is given below The King Group Workaheet Month Ended December 31, 2019 Adjusted TrialIncomBalance Sheet Trial Balance Adjustmencs

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
A completed worksheet for The King Group is given below The King Group Workaheet Month Ended December 31, 2019 Adjusted TrialIncomBalance Sheet Trial Balance Adjustmencs Balance Statement Accounts Receivable Supplies Prepaid Advertising Equipment Accumulated Depreciation Debit Credit Debit Credit Debit Credit Debit Credit 91,900 11, 500 5,000 91, 900 11, 500 3,100 17,500 47,500 91, 900 ?1,500 3, 100 17,s00 47,500 /// (a) i,900 (b)2,500 20,00O 47,500 (c) 1,900 -Equipment Accounts Payable Delva King, Capital Delva King. Drawing Fees Income supplie?Expense Advertiaing Expense Depreciation Expense 11, 500 127,000 1,900 11, 500 127,000 1, 900 11, 500 127,000 7,900 7,900 7.900 60, 750 60, 750 60,750 (a) 1, 900 (b)2,500 1.900 2, 500 1,900 2, 500 (c) 1,900 -Equipment Salaries Expense Ueilities Expense Totals Net Income ,900 13, 900 1,550 6, 300 201,150 201.150 21,750 60,750 179,400 140,400 13,900 1,550 13,900 ,550 199,250 199,250 6, 300 39, 000 60,750 60,750 179,400 179,400 Required: 1. Record the adjusting entries in the general journal (transactions 1-3) 2 Record the closing entries in the general journal (transactions 4-7) 3. Post the adjusting entries and the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. 4. Prepare a post-closing trial balance. Analyze: How many accounts are listed in the adjusted and post-closing trial balance section? Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Analyze

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

Crash Course Medical Research Audit And Teaching The Essentials For Career Success

Authors: Amit Kaura MSc BSc MB ChB MRCP AFHEA AMInstLM, Darrel Francis, Shreelata T Datta MD MRCOG LLM MBBS BSc, Philip Xiu MA MB BChir MRCP MRCGP MScClinEd FHEA MAcadMEd RCPathME

2nd Edition

0702073784, 978-0702073786

More Books

Students also viewed these Accounting questions