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i provided all photos of information. please complete the post closing trial balance Adjusted Trial Balance Before the dosing entries are journalized, you begin with

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i provided all photos of information. please complete the post closing trial balance

Adjusted Trial Balance Before the dosing entries are journalized, you begin with an adjusted trial balance. The dlosing entries are essentially the link from the adjusted trial balance to the post-closing trial balance. Chandler, Inc. Adjusted Trial Balance December 31, 2017 Account Title Debit Balances Credit Balances 66,000 Accounts Receivable 29,000 Prepaid Insurance Office Equipment 16,000 60,000 office Eq Depreciation- Accounts Payable Salaries Payable Income Taxes Payable Common Stock Retained Earnings Fes Earned Salaries Expense 25,600 Selling Expense 15,000 Income Taxes Expense 17,000 47,200 The Closing Process The final step o the accounting cycl is th closing process. The main goal o t tage of cye eis to ensure that the balance o each co ora acea t is raturned o cero and her net no res rans enee to the stained aan nes a come The st stap in success uny undertaking the closing process is to unders an te difference between a tempat, aco ~ t and e p man e a eur Roscoe has e re questions a ut the procees. zero, enrer fo Answer the folewing duestao All work saved. lhc. on this panel. He's not sure if he's journalized the entries correctly, and asks you to review ler, Determine which entry is incorrect, and journalize both closing entries for Chandler, Inc. as of Dec. 31. Journal Page 25 Description Date Post. Ref.Debit Credit Retained Earnings Dec. 31 451,600 Fees Earned 165,600 Rent Revenue 92,000 Interest Revenue Salaries Expense 71,000 Selling Expense 25,600 Income Taxes Expense 15,000 Depreciation Expense 47,200 Insurance Expense 17,000 1,000 Miscellaneous Expense 5,000 Dec. 31Retained Earnings 5,000 Dividends Journal Roscoe has attempted to jovrnalize the closing entries for Chandlet. Inc. on the Roscoe's Journal panel. He's not sure if he's journalized the entries correctly, and asks you to revie ane reurmelice botn closing entires for chanoe ie as ef Dec. 3i, If an amount box does not require an entry, leave t blank. Determine iwhich entey is vncorrect 165.600 92.000 Dec. 31 Fees Earned Rent Revenue Interest Revenue 17.200 71,000 Salaries Expense 1/1 items 15,000 Depreciation Expense 47.200 Insurance Expense Retained F Dec. 31 Retained f Post Closing Trial Balance The post-dlosing trial balance shows alli the permanent accounts with their updated values after the temporary accounts have been r debits equal credits post-close. reduced to zero balance for the next accounting cycle. Also, the post-clasing trial balance is meant to ensure that scoe is very happy with your work or, the closing entries for Chandler, Inc., and asks if you would prepare a post-dosing trial balance for the roam, tf an a Chandler, Inc. Post-Closing Trial Balance December 31, 2017 Account Title Debit Balances Credit Balances Cash Accounts Recelvable Prepaid lesurance Oftice Equipent Accounts Payable Salaries Payable Income Taxes Payable Conumon Stock Retained Earmings All work savod

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