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completed worksheet for The King Group is given below. The King Group Worksheet Month Ended December 31, 2019 Adjusted Trial Trial Balance Adjustments Account


 
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completed worksheet for The King Group is given below. The King Group Worksheet Month Ended December 31, 2019 Adjusted Trial Trial Balance Adjustments Account Name Debit Credit Debit Credit Cash 93,200 Debit 93,200 Income Balance Statement Credit Debit Credit Balance Sheet Debit Credit 93,200 Accounts 12,800 12,800 Receivable 12,800 Supplies 7,600 (a) 3,200 4,400 4,400 Prepaid 30,400 Advertising Equipment (b) 3,800 26,600 26,600 80,000 80,000 80,000 -Equipment Delva King, Capital Delva King, Drawing Accumulated Depreciation Accounts Payable (c) 3,200 3,200 3,200 12,800 12,800 12,800 140,000 140,000 140,000 9,200 9,200 9,200 Fees Income Supplies Expense Advertising 97,800 97,800 97,800 (a) 3,200 3,200 3,200 Expense-Equipment Expense Depreciation Salaries Expense Utilities Expense 15,200 2,200 Totals 250, 600 250, 600 Net Income (b) 3,800 3,800 3,800 (c) 3,200 3,200 3,200 15,200 2,200 15,200 2,200 10,200 10,200 253,800 253,800 27,600 97,800 226,200 156,000 70,200 70,200 97,800 97,800 226,200 226,200 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.

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