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MY Autobodys adjusted trial balance on December 31, 2023, appears in the work sheet as follows: No. Account Debit Credit 101 Cash $ 28,100 124
MY Autobodys adjusted trial balance on December 31, 2023, appears in the work sheet as follows: No. Account Debit Credit 101 Cash $ 28,100 124 Shop supplies 1,850 128 Prepaid insurance 4,300 167 Equipment 88,500 168 Accumulated depreciation, equipment $ 7,600 201 Accounts payable 19,100 210 Wages payable 8,960 301 Mike Yang, capital 141,000 302 Mike Yang, withdrawals 36,500 401 Repair revenue 158,530 612 Depreciation expense, equipment 8,600 623 Wages expense 104,600 637 Insurance expense 1,950 640 Rent expense 52,850 650 Office supplies expense 4,900 690 Utilities expense 3,040 Totals $ 335,190 $ 335,190 Required 1. Prepare closing entries. 2. Prepare the post-closing trial balance at December 31, 2023.
MY Autobodys adjusted trial balance on December 31, 2023, appears in the work sheet as follows:
No. Account Debit Credit
101 Cash $ 28,100
124 Shop supplies 1,850
128 Prepaid insurance 4,300
167 Equipment 88,500
168 Accumulated depreciation, equipment $ 7,600
201 Accounts payable 19,100
210 Wages payable 8,960
301 Mike Yang, capital 141,000
302 Mike Yang, withdrawals 36,500
401 Repair revenue 158,530
612 Depreciation expense, equipment 8,600
623 Wages expense 104,600
637 Insurance expense 1,950
640 Rent expense 52,850
650 Office supplies expense 4,900
690 Utilities expense 3,040
Totals $ 335,190 $ 335,190
Required
1. Prepare closing entries.
2. Prepare the post-closing trial balance at December 31, 2023.
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