Question
I need assistance in completing the Balance Sheet and Closing Entries to the following Adjusted Trial Balance: DESCRIPTION DEBIT CREDIT CASH $ 319,620 DEPOSIT ELECTRIC
I need assistance in completing the Balance Sheet and Closing Entries to the following Adjusted Trial Balance:
| DESCRIPTION | DEBIT | CREDIT |
| CASH | $ 319,620 |
|
| DEPOSIT ELECTRIC COMPANY | $ 500 |
|
| DEPOSIT WATER SEWER GARBAGE | $ 200 |
|
| DEPOSIT TELEPHONE | $ 250 |
|
| OFFICE SUPPLIES | $ 500 |
|
| PREPAID INSURANCE | $ 3,600 |
|
| PREPAID LEASE | $ 11,000 |
|
| MACHINERY & EQUIPMENT | $ 100,000 |
|
| FURNITURE & FIXTURES | $ 20,000 |
|
| ACCUMULATED DEPRECIATION - FURNITURE & FIXTURES |
| $ 167 |
| ACCUMULATED DEPRECIATION - MACHINERY & EQUIPMENT |
| $ 1,190 |
| ACCOUNTS PAYABLE |
| $ 1,200 |
| UNEARNED REVENUE |
| $ 50,000 |
| NOTES PAYABLE - FURNITURE & FIXTURES |
| $ 20,000 |
| NOTES PAYABLE - MACHINERY & EQUIPMENT |
| $ 90,000 |
| CAPITAL STOCK |
| $ 300,000 |
| WAGES PAYABLE |
| $ 450.00 |
| ACCOUNTING & LEGAL EXPENSE | $ 2,500 |
|
| INDEPENDENT CONTRACTOR | $ 900 |
|
| UTILITIES EXPENSE | $ 430 |
|
| SUPPLIES EXPENSE | $ 700 |
|
| DEPRECIATION - FURNITURE & FIXTURES | $ 167 |
|
| DEPRECIATION - MACHINERY & EQUIPMENT | $ 1,190 |
|
| LEASE EXPENSE | $ 1,000 |
|
| INDEPENDENT CONTRACTOR | $ 450 |
|
|
| $ 463,007 | $ 463,007 |
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Fundamentals Of Management
Authors: Ricky Griffin
10th Edition
9780357517345
