Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

just need the Post closing Trial Balance answes and the two wrong ansers on the Journal Chandler Company is owned by Roscoe Chandler and provides

just need the Post closing Trial Balance answes and the two wrong ansers on the Journal
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Chandler Company is owned by Roscoe Chandler and provides appraisal services to individuals and companies wishing to purchase and sell fine art Chandler Company began business on January 1, 2018, and is just completing its first year of business. Roscoe asks for your help in completing the accounting cycle for the company by assisting with the closing process Post-Closing Trial Balance Shaded cells have feedback The post-closing trial balance shows all the permanent accounts with their updated values after the temporary accounts have been reduced to zero balance for the next accounting cycle. Also, the post-dosing trial balance is meant to ensure that debits equal credits post-dose Roscoe is very happy with your work on the closing entries for Chandler Company, and asks if you would prepare a post closing trial balance for the company, Question not attempted. Score: 0/39 Chandler Company POST CLOSING TRIAL BALANCE December 31, 2018 DEN CREDIT ACCOUNT TITLE la Cash Accounts Receivable Shaded cels have feedback How doending Post-Closing Trial Balance 3 Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable 7 Salaries Payable 1 Income Taxes Payable Roscoe Chandles. Capital 10 Totals Points 011 JOURNAL Score: 143/147 ACCOUNTING EQUATION POSTRE DEBIT CREOIT ASSOT DESCRIPTION LALITIES TOUT DATE Closing Entries Dec 31 Fees Eamed 165.600.00 Rent Revenue 92.000.00 Interest Revenue 17,200.00 98.000.00 71.000.00 25.600.00 15.000.00 Roscoe Chandler, Capital Salaries Expande Selling Expense Income Taxes Expense Depreciation Expert Equipment Insurance Expense Miscellaneous Expense Dec 31 Roscoe Candle Capital 47,200.00 17.000.00 15 1.000,00 11 5.000.00 Adjusted Trial Balance Before the dating entries are made, you begin with an adjusted trial balance. The dosing entries are essentially the link from the adjusted trial balance to the post dosang trial balance Chandler Company ADJUSTED TRIAL BALANCE December 31, 2018 CHOT ACCOUNT TITLE DET 54,000.00 1 Cash 2 Accounts Receivable 29,000.00 Prepaid Insurance 16,000.00 60.000.00 Equipment Accumulated Depreciation Equipment Accounts Payable 2. Slanes Payable 40.000,00 6.000.00 3.000.00 Adjusted Trial Balance 4,000.00 8 Income Taxes Payable 9 Roscoe Chandler, Capital 20,000.00 5,000.00 10 Roscoe Chandler, Drawing 165,600.00 11 Fees Earned 92,000.00 12 Rent Revenue 17.200,00 13 Interest Revenue 14 Salaries Expense 71,000.00 15 Selling Expense 37,600.00 15,000.00 16 Income Taxes Expense 17 Depreciation Expense-Equipment 47,200.00 17,000.00 18 Insurance Expense 19 Miscellaneous Expense 1,000.00 20 Totals 352,800.00 352,800.00 We Process Roscoe's Journal Roscoe has attempted to prepare the danges for Chandler Company on the planet He's not sure hered the mentre comety, and you to view then you to the conduct othes incorrect Determine which artys come and artistice bolo con entries for Chander Company as of Dec. on the Journal parer! JOUDUL ACCOUNTING EURO POSTS CRITE Cesing 0.00 Dec 31 Chandel Festmed Net 92.00 1220000 463,600,00 oscoe's Journal Dec 31 Roscoe Chandler, Capital 1 165.600.00 Fees Earned T 92.000.00 Rent Revenue 1 17,200.00 Interest Revenue 71.000.00 37.600.00 1 15.000.00 47,200.00 1 17.000.00 Salaries Expense Selling Expense Income Taxes Expense Depreciation Expense-Equipment Insurance Expense Miscellaneous Experise 31 Roscoe Chandler.Capital Roscoe Candles Drawing 10 1.000.00 11 5.000.00 5.000.00 11

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.

9th Canadian Edition, Volume 2

470964731, 978-0470964736, 978-0470161012

Students also viewed these Accounting questions

Question

Which of the following methods is not to insert embedded tables?

Answered: 1 week ago

Question

How flying airoplane?

Answered: 1 week ago