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Nano Technology Solution Co has prepared the following unadjusted trial balance at Jan 31, 2019 Nano Technology Solution Co. Adjusted Trial Balance January 31, 2019

Nano Technology Solution Co has prepared the following unadjusted trial balance at Jan 31, 2019

Nano Technology Solution Co.

Adjusted Trial Balance

January 31, 2019

Debit

Credit

Cash

13100

Supplies

8000

Prepaid insurance

7500

Trucks

190,000

Accumulated Depreciation Truck

27,100

Account payable

4500

Unearned Fees

11,000

Note payable (due 2025)

20,000

Smiths Capital

106400

Smiths Drawing

3000

Fees earned

131,000

Salary expense

61000

Rent Expense

7600

Electricity Expenses

9800

300,000

300,000

Requirement:

  • 1. Prepare income statement and stamen of Owners Equity
  • 2. Journalize necessary closing entry
  • 3. Prepare Post-closing Trail balance

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