Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

pls with Calculation The following adjusted trial balance contains the accounts and balances for Stamford University as at December 31, 2015, the end of its

image text in transcribedimage text in transcribed

pls with Calculation

The following adjusted trial balance contains the accounts and balances for Stamford University as at December 31, 2015, the end of its financial year. Credit Debit $18,000 10,400 2,000 23,000 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 Stamford, Capital 302 Stamford, Withdrawals 404 Services revenue 612 Dep ciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense $ 6,500 41,618 6,000 48,300 2,000 28,159 2,029 3,236 1,594 Totals $ 96,418 $96,418 (1) Prepare the December 31, 2015, closing entries for Stamford Company. (Omit the "$" sign in your response.) Debit Credit Date General Journal Dec. 31 (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (2) Prepare the December 31, 2015, post-closing trial balance for Stamford University. (The items in the Trial Balance should be grouped as follows: Assets, Liabilities and Equity. Be sure to list the asset in order of liquidity. Omit the "$" sign in your response.) STAMFORD UNIVERSITY Post-Closing Trial Balance December 31, 2015 Debit $ Credit (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) Totals $ KA Ask your instructor a

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

Question

The report referenced in Exercise

Answered: 1 week ago