Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can you make it closing entries, post - closing trial balance, balance sheet, opening entry as a table in the same way according to this

Can you make it closing entries, post-closing trial balance, balance sheet, opening entry as a table in the same way according to this table? For each one separately.\table[[INCEK COMPANY ADJUSTED TRIAL BALANCE - December 31,2022],[ACCOUNTS,AMOUNTS,BALANCES],[Debit,Credit,Debit,Credit],[100- Cash on Hand,70,800,67,000,3,800,cdots],[101- Checks Received,142,600,142,600,cdots,cdots],[102- Cash in Bank,132,600,dots-,132,600,dots-.],[120- Accounts Receivable,150,000,60,000,90,000,cdots],[153- Merchandise,180,000,100,000,80,000,cdots],[191- V.A.T. Deductible,14,400,14,400,dots-,dots...],[252- Buildings,250,000,cdots-,250,000,cdots],[255- Furniture & Fixtures,50,000,dots--,50,000,cdots],[257-Accumulated Deprec.,cdots,15,000,cdots-,15,000],[321- Notes Payable,80,000,196,400,cdots,116,400],[360- Taxes & Funds Payable,49,000,50,000,dots-,1,000],[361- Social Security Payable,dots,2,000,dots,2,000],[391- V.A.T. Collected,23,400,23,400,dots--,dots-.],[500- Capital,cdots-.,400,000,cdots-,400,000],[570- Previous Years' Profits,dots,80,000,dots,80,000],[600- Sales,cdots-,130,000,cdots,130,000],[621- Cost of Merchan. Sold,100,000,dots,100,000,cdots],[631- Mrktg., Sel., Ad. Expen.,6,000,dots-,6,000,cdots],[632- Gen. & Adm. Expenses,25,000,cdots-*,25,000,dots-.],[660-Shrt-Term Borrow. Exp.,2,000,cdots,2,000,cdots],[689- Other Extraord. Losses,5,000,dots-.,5,000,dots...],[760- Mrkt, Sell. & Dist. Costs,6,000,dots--,6,000,dots-.],[761- Mkt, SII. & D.C. Applied,dots,6,000,dots,6,000],[770- General & Adm. Costs,10,000,cdots-*,10,000,dots-.],[771-Gen. & Adm. C. Applied,dots..,10,000,dots-,10,000],[780- Financial Costs,2,000,dots-,2,000,cdots],[781- Financial Costs Applied,cdots,2,000,cdots,2,000],[TOTALS,1,298,800,1,298,800,762,400,762,400]]
image text in transcribed

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_2

Step: 3

blur-text-image_3

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

Detecting Accounting Fraud Analysis And Ethics

Authors: Cecil W. Jackson

1st Edition

1292059400, 9781292059402

More Books

Students also viewed these Accounting questions

Question

What is a use case, and what is its purpose? AppendixLO1

Answered: 1 week ago