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On August 1, 2021, the beginning of its current fiscal year, the following opening account balances, listed in alphabetical order, were reported by Bonita Ltd.
On August 1, 2021, the beginning of its current fiscal year, the following opening account balances, listed in alphabetical order, were reported by Bonita Ltd.
Accounts payable | $2,270 | ||
Accounts receivable | 4,590 | ||
Accumulated depreciationequipment | 2,060 | ||
Cash | 5,970 | ||
Common shares | 13,000 | ||
Deferred revenue | 1,180 | ||
Equipment | 10,700 | ||
Interest receivable | 20 | ||
Note receivable, due October 31, 2021 | 4,000 | ||
Retained earnings | 6,330 | ||
Salaries payable | 1,400 | ||
Supplies | 960 |
During August, the following summary transactions were completed.
Aug. 1 | Paid $410 cash for advertising in local newspapers. Advertising flyers will be included with newspapers delivered during August and September. (Hint: Use the Prepaid Advertising account.) | ||
3 | Paid August rent $410. (Hint: Use the Prepaid Rent account.) | ||
6 | Received $2,920 cash from customers in payment of accounts. | ||
10 | Paid $3,190 for salaries due employees, of which $1,790 is for August and $1,400 is for July salaries payable. | ||
13 | Received $4,120 cash for services performed in August. | ||
15 | Purchased additional equipment on account $2,010. | ||
17 | Paid creditors $2,010 of accounts payable due. | ||
22 | Purchased supplies on account $790. | ||
24 | Paid salaries $3,060. | ||
27 | Performed services worth $5,240 on account and billed customers. | ||
29 | Received $820 from customers for services to be provided in the future. | ||
31 | Declared and paid a $520 dividend. |
Please fill out all the entries that its asking for
Prepare a post-closing trial balance. BONITA LTD. Post-closing Trial Balance August 31, 2021 Debit $ Credit $ $Step by Step Solution
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