Question
On the basis of the following data taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet for the year ended March 31 for
On the basis of the following data taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet for the year ended March 31 for Banes Domino's Corporation, (a) journalize the closing entries and (b) Prepare the Post Closing Trial Balance. (21 points)
| Cash | 30,000 |
|
| Accounts Receivable | 45,200 |
|
| Supplies | 5,000 |
|
| Equipment | 169,900 |
|
| Accumulated Depreciation |
| 32,000 |
| Accounts Payable |
| 12,500 |
| Common Stock |
| 51,600 |
| Retained Earnings |
| 20,000 |
| Dividends | 47,000 |
|
| Fees Earned |
| 510,000 |
| Salary Expense | 244,500 |
|
| Rent Expense | 48,000 |
|
| Depreciation Expense | 25,000 |
|
| Supplies Expense | 9,500 |
|
| Miscellaneous Expense | 2,000 |
|
|
| 626,100 | 626,100 |
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Horngrens Financial and Managerial Accounting
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
5th edition
9780133851281, 013385129x, 9780134077321, 133866297, 133851281, 9780133851298, 134077326, 978-0133866292
