Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Closing Entries and Post-Closing Trial Balance Required: 1. Joumalize (page 10) and post the adjusting entries. 2. Journalize (page 11) and post the closing entries.

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Closing Entries and Post-Closing Trial Balance Required: 1. Joumalize (page 10) and post the adjusting entries. 2. Journalize (page 11) and post the closing entries. 1. Journalize (page 10 ) and post the adjusting entries. 2. Joumalize (page 11) and post the closing entries. \begin{tabular}{|lcccccc|} \hline \multicolumn{1}{|c|}{ GENERAL LEDGER } & & \\ \hline ACCOUNT & & Cash & & & ACCOUNT NO. & 101 \\ \hline & & & & & BALANCE \\ \hline DATE & ITEM & POST. REF. & DEBIT & CREDIT & DEBIT & CREDIT \\ \hline 20 & & & & & \\ Jan. 31 & & & & & & \\ \hline \end{tabular} \begin{tabular}{|lcccccc|} \hline ACCOUNT & & Prepaid Insurance & & & ACCOUNT NO. & 145 \\ \hline & & & & & BALANCE \\ \hline DATE & ITEM & POST. REF. & DEBIT & CREDIT & DEBIT & CREDIT \\ \hline 20 & & & & & & \\ Jan. 31 & Balance & & & & & \\ Jan. 31 & & & & & & \\ \hline \end{tabular} \begin{tabular}{|ccccccc|} \hline ACCOUNT & Income Summary & & & ACCOUNT No. & 313 \\ \hline & & & & & BALANCE \\ \hline DATE & ITEM. & POST, REF. & DEBIT & CREDIT & DEBIT & CREDIT \end{tabular} \begin{tabular}{|ccccccc|} \hline ACCOUNT & & Supplies Expense & & ACCOUNT NO. & 523 \\ \hline & & & & BALANCE \\ \hline DATE & ITEM & POST. REF. & DEBIT & CREDIT & DEBIT & CREDIT \\ \hline 20 & & & & & \\ Jan. 31 & & & & & \\ Jan. 31 & & & & & \\ \hline \end{tabular} \begin{tabular}{|lcccccc|} \hline & Gas and Oil Expense & & & ACCOUNT NO. & 538 \\ \hline & & & & & BALANCE \\ \hline DATE & ITEM & POST. REF. & DEBIT & CREDIT & DEBIT & CREDIT \\ \hline 20 & & & & & & \\ Jan. 31 & Balance & & & & 190.00 & \\ Jan. 31 & & & & & & \\ \hline \end{tabular} \begin{tabular}{|lcccccc|} \hline ACCOUNT & Depreciation Expense-Delivery Equipment & & ACCOUNT No. & 541 \\ \hline & & & & & BALANCE \\ \hline DATE & ITEM & POST. REF. & DEBIT & CREDIT & DEBIT & CREDIT \\ \hline 200 & & & & & & \\ Jan. 31 & & & & & \\ Jan. 31 & & & & & \\ \hline \end{tabular} 3. Prepare a post-closing trial balance

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

External Quality Audit Has It Improved Quality Assurance In Universities

Authors: Mahsood Shah, Chenicheri Sid Nair

1st Edition

1843346761, 978-1843346760

More Books

Students also viewed these Accounting questions