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Green Lawns, Inc., performs adjusting entries every month, but closes its accounts only at year-end. The following is the company's year-end adjusted trial balance dated
Green Lawns, Inc., performs adjusting entries every month, but closes its accounts only at year-end. The following is the company's year-end adjusted trial balance dated December 31, current year. GREEN LAWNS, INC. Adjusted Trial Balance December 31, Current Year Cash Accounts receivable Supplies Equipment Accumulated depreciation: equipment Accounts payable Income taxes payable Capital stock Retained earnings. Dividends Lawn care revenue earned Salary expense Supply expense Advertising expense Depreciation expense: equipment Income taxes expense $ 218,640 10,800 720 28,800 $ 12,000 3,600 8,400 60,000 108,000 4,800 230,400 124,800 2,880 720 2,400 27,840 $422,400 $ 422,400 a. Prepare all necessary closing entries at December 31, current year. b. Prepare an after-closing trial balance dated December 31, current year. Complete this question by entering your answers in the tabs below. Required A Required B Prepare all necessary closing entries at December 31, current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list < Prev 10 of 10 Score answer > Required A Required B Check my work Prepare all necessary closing entries at December 31, current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 Record the entry to close the revenue account. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal
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