Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

At the end of its fiscal year, adjusted trail balance of Wildhore Company is as follws. WILDHOSE COMPANYJ Adjusted Trail Balance. Debit Cash $ 5

At the end of its fiscal year, adjusted trail balance of Wildhore Company is as follws. WILDHOSE COMPANYJ Adjusted Trail Balance.
Debit
Cash $5,190
Acounts receivable $12,500
Prepaid ren $9,600
Supplies $13,00
Equibment $21,050
Credit
Accumulated depreciation equib 6800
Debit
Patents 19400
Credit
Account payable 5,340
Interest payable 1,300
Unearned revenue 3,150
Notes payable (due on July 1,2026)46,100
Debit
B. Wildhorse capital 17600
Credit
B.Wildhorse drawing 76,100
Service revenue 870
Debit
Depreciation expense 3950
Interest expensr 4100
Rent expense 19650
Salaries expense 37,150
Supplies expense 21,950
Debit $173440
Credit $173,440
Prepare closing entriest
Date Account titles
Julay 31
(To close revenue accouts)
July 31
(To close expense accounts)
July 31
(To close Income Summary)
July 31
(To close Drawing accounts)

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

Accounting Costing And Management

Authors: Riad Izhar, Janet Hontoir

2nd Edition

9780198328230

More Books

Students also viewed these Accounting questions

Question

What questions do you have for us?

Answered: 1 week ago

Question

2. How is communication defi ned?

Answered: 1 week ago

Question

=+Understand the different types of personal brands in social media

Answered: 1 week ago