Question
De Filippis Limousine Service Adjusted trial balance 31 st August 2017 (Data given below in Reno De Filippis problem) Prepare the necessary Journalfor Closing Entries
De Filippis Limousine Service
Adjusted trial balance
31st August 2017
(Data given below in Reno De Filippis problem)
- Prepare the necessary Journalfor Closing Entries at August 31, 2017.
- Prepare an After-Closing Trial Balance dated August 31, 2017.
Registration no:173136
| Details | Dr. | Cr. |
| Cash | $171,000 |
|
| Account Receivables | 9,400 |
|
| Prepaid studio rent | 3,000 |
|
| Unexpired insurance | 7,200 |
|
| Supplies | 5,00 |
|
| Equipment | 18,000 |
|
| Accumulated dep: equipment |
| 7,200 |
| Notes payable |
| 10,000 |
| Accounts Payables |
| 3,200 |
| Salaries payable |
| 4,000 |
| Income taxes payable |
| 6,000 |
| Unearned studio revenue |
| 8,800 |
| Capital stock |
| 100,000 |
| Retained earnings |
| 40,000 |
| Dividends | 6,000 |
|
| Service Revenue Earned |
| Your Registration No. |
| Salaries expense | 85,000 |
|
| Supply expense | 3,900 |
|
| Rent expense | 12,000 |
|
| Insurance expense | 1,900 |
|
| Advertising expense | 500 |
|
| Depreciation expense: equipment | 1,800 |
|
| Interest expense | 900 |
|
| Income taxes expense | 23,000 |
|
| Total | $344,200 | $344,200 |
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