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*****please use the same format and number of boxes so its easy to transfer*********** part a, b and c a) b) c) *****please use the
*****please use the same format and number of boxes so its easy to transfer***********
part a, b and c
a)
b)
c)
*****please use the same format and number of boxes so its easy to transfer***********
Wildhorse Company ended its fiscal year on July 31, 2022. The company's adjusted trial balance as of the end of its fiscal year is as follows. Wildhorse Company Adjusted Trial Balance July 31, 2022 No. Account Titles Credit 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue Debit $9,900 8,700 15,700 $7,800 4,400 2,400 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense 732 Utilities Expense 44,100 15,500 63,000 6,500 7,500 56,000 14,900 $128,200 $128,200 Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit July 31 (To close revenue accounts) July 31 LL July 31 July 31 (To close expense accounts) (To close net income / (loss)) (To close drawings) JOIN Post to Owner's Capital and Income Summary accounts. (Post entries in the order of journal entries presented in the previous part. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Owner's Capital No. 301 Date Explanation Debit Credit Balance July 31 July 31 July 31 Date Explanation July 31 July 31 July 31 Income Summary Debit Credit No. 350 Balance Prepare a post-closing trial balance at July 31. WILDHORSE COMPANY Post-Closing Trial Balance Debit $ $ Credit Totals $ $Step by Step Solution
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