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ONLY THE POST CLOSING TRIAL BALANCE IS NEEDED! THANK YOU AND WILL THUMBS UP! Allson and Chuck Renny began operations of thelr furniture repalr shop
ONLY THE POST CLOSING TRIAL BALANCE IS NEEDED! THANK YOU AND WILL THUMBS UP!
Allson and Chuck Renny began operations of thelr furniture repalr shop (Lazy Sofa Furniture, Incorporated) on January 1. 2020. The annual reporting perlod ends December 31. The trlal balance on January 1, 2021, follows lamounts are rounded to thousands of dollars to simplify). Transactions during 2021 (summarlzed In thousands of dollars) follow: a. Borrowed $19 cash on July 1,2021 , signing a s|x-month note payable. b. Purchased equipment for $20 cash on July 2 . c. Issued additional shares of common stock on July 3 for $5. d. Purchased additional equipment on August 4,$3 cash. e. Purchased, on account, supplies on September 5 for future use, $10. f On December 6 , recorded revenues in the amount of $63. including $9 on credit and $54 recelved in cash. g. Pald salarles and wages expenses on December 7,$21. h. Collected accounts recelvable on December 8,$8. 1. Pald accounts payable on December 9,$11. 1. Recelved a $3 deposit on December 10 for work to start January 15,2022 . B. Prepare a post-closing trlal balance. |Enter your answers In thousands of dollars.|Step by Step Solution
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