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First: identify the problem. Second: the causes and solutions of the situation. Third: Express your opinion. I need an answer with explanation and steps please
First: identify the problem. Second: the causes and solutions of the situation. Third: Express your opinion.
I need an answer with explanation and steps please
Case 3: The following is the adjusted trial balance, which prepared at June 30,2020 for Almeer Est. Almeer Est. Adjusted trial balance June 30, 2020 Debit Credit Account Title (BD) (BD) Cash 20,500 Accounts Receivable 3,500 Equipment 8,600 700 Supplies Unearned Revenue 3,460 Capital 31,800 Almeer Est. Drawings 850 Revenue 6,850 Salaries Expense 3,850 1,730 Rent Expense Utilities Expense 2,380 Totals 42,110 42,110 1- CLOSING ENTRIES Date Explanation PR Debit (BD) Credit (BD) 6,850 June 30, 2020 Income summary Revenue 6,850 7,950 3,850 June 30, 2020 Income Summary Salaries Expense Rent Expense Utilities Expense 1,730 2,380 Capital Net Profit 1,300 June 30, 2020 Income Summary 1,300 800 June 30, 2020 Capital Drawings 800 Required: 1. Find the mistake of the Closing entries. 2. Prepare the closing entries again for the period ended 31 March 2022
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