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A completed worksheet for The King Group is given below. The King Group Worksheet Month Ended December 31, 2019 Adjusted Trial Income Balance Sheet Trial
A completed worksheet for The King Group is given below. The King Group Worksheet Month Ended December 31, 2019 Adjusted Trial Income Balance Sheet Trial Balance Debit Credit Debit CreditDebit Credit Debit Credit Debit Credit 91,700 11,300 Adjustments Balancee Statement Account Name Cash Accounts Receivable Supplies Prepaid Advertising Equipment Accumulated Depreciation 91,700 11,300 (a)1,700 2,900 (b)2,300 16,100 42,500 91,700 11,300 2,900 16,100 42,500 4,600 18,400 42,500 1,700 11,300 125, 000 (c)1,700 1,700 -Equipment Accounts Payable Delva King, Capital Delva King, Dr Fees Income Supplies Expense Advertising Expense Depreciation Expense- 11,300 125, 000 11,300 125,000 awing 7,700 7,700 7,700 55, 050 55,050 55,050 (a)1,700 (b)2,300 (c)1,700 1,700 1,700 2,300 1,700 13,700 5,700 193,050 193,050 20,850 55,050 172,200 138, 000 34,200 2,300 1,700 13,700 Equipment Salaries Expense Utilities Expense Totals Net Income 13,700 1,450 1,450 ,450_ 191,350 191,350 5,700 34,200 55,050 55,050 172,200 172,200 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
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