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Part 1: Prepare closing journal entries S. Scott Painting Company Adjusted Trial Balance December 31, 2019 Debits Credits Cash $ 4,750 Accounts Receivable 2592 Prepaid
Part 1:
Prepare closing journal entries
S. Scott Painting Company | ||
Adjusted Trial Balance | ||
December 31, 2019 | ||
Debits | Credits | |
Cash | $ 4,750 | |
Accounts Receivable | 2592 | |
Prepaid Insurance | 380 | |
Prepaid Rent | 200 | |
Painting Supplies | 152 | |
Painting Equipment | 3875 | |
Accum. Deprec. - Equip | 320 | |
Truck | 7200 | |
Accum. Deprec. - Truck | 720 | |
Accounts Payable | 420 | |
Wages Payable | 295 | |
Unearned Painting Revenue | 1690 | |
Scott, Capital | 15034 | |
Scott, Withdrawals | 2000 | |
Painting Revenue | 14620 | |
Wages Expense | 5680 | |
Rent Expense | 1350 | |
Fuel, Oil, and Other Truck Exp | 580 | |
Insurance Expense | 380 | |
Supplies Expense | 2920 | |
Depreciation Expense - Equip | 320 | |
Depreciation Expense - Truck | 720 | |
$ 33,099 | $ 33,099 | |
Prepare closing journal entries |
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