Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

P5-18. The adjusted trial balance at June 30, 2023, for Altaz's Electrical Co, follows. Journalizing closing entries, Prepare the four closing entries and the post-closing

image text in transcribed
image text in transcribed
P5-18. The adjusted trial balance at June 30, 2023, for Altaz's Electrical Co, follows. Journalizing closing entries, Prepare the four closing entries and the post-closing trial balance. and preparing a post closing trial balance Acct # Account Name Dr. Cr. 0 (20 min) 101 Cash $ 7,550 105 Accounts Receivable 14,000 Check Figure 106 Prepaid Rent Post-Closing Trial Balance total 6,000 $105,550 107 Office Equipment 4,500 108 Accumulated Depreciation, Office $ 1,750 Equipment 120 Electrical Equipment 73,500 121 Accumulated Depreciation, Electrical 26,750 Equipment 201 Accounts Payable 24,550 215 Salaries Payable 3,200 240 Loan Payable 26,000 301 A. Yeoman, Capital 32,200 302 A. Yeoman, Withdrawals 7,500 401 Electrical Fees Earned 64,100 500 Depreciation Expense, Office Equipment 500 501 Depreciation Expense, Electrical 11,000 Equipment 502 Salaries Expense 22,500 512 Rent Expense 24,000 520 Advertising Expense 7,500 $178,550 $178,550 P5-2B. As the bookkeeper for Harvey's Cleaning Service, Journalizing and posting and closing entries and pr a. from the trial balance columns of the worksheet on page 232, enter the begin- a post-closing trial balanc ning balance of each account in your working papers, 0 05 min) b. journalize and post adjusting entries, c. journalize and post closing entries, and Check Figure d. from the ledger (after all posting is complete), prepare a post-closing trial Post-Closing Trial Balance to balance at March 31, 2022. $3,294 HARVEY'S CLEANING SERVICE WORKSHEET FOR THE MONTH ENDED MARCH 31, 2022 Income Statem DE CE Account Titles Gash Prepaid Insurance Cleaning Supplies Auto Accumud Depreciation Auto Accounts Payable B Harvey, Capital FL Harvey, Withdrawal Cleaning Tees Salones Expense Telephone Expense Advertising Expense Gas Expense Trial Balance Adjustments Dr. CE DE CE 17121400 CAN SO00 (A) 200 bo Logo (B) 60000 12/2000 66000 osobo C7400 2400 60 000 32000 20 lobo (D) 100 2 8400 276 26000 7510 1790900 (A20000 (B) 000 (Sooo (D) 17 500 11 200 11/250 Adpustel Trial Baliace De Cr 212000 3000 zolobo 1 2 2000 nooo 640 24 Golob 310000 700 2040 27600 26000 Balance Sheet DE Er 12400 Lobo 20000 22000 nooo 67400 248000 0000 370000 9500 40 2600 Insurance Expense Cleaning Supplies Expense Depreciation Expense. Auto Accried Salaries 20000 GO000 115000 zooloo oooo 1500 15100 793900 27500 413900 783 900 39:4500 389400 Net loss 390,000 4560 3000 300 0220 0300

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions