Question
Post the closing entries to the ledger. (Post entries in the order of journal entries presented in the previous part.) Cash Bal. 117,000 Rent Receivable
Post the closing entries to the ledger. (Post entries in the order of journal entries presented in the previous part.)
| Cash | |||
| Bal. | 117,000 | ||
| Rent Receivable | |||
| Adj. | 3,960 | ||
| Accounts Receivable | |||
| Bal. | 60,700 | ||
| Allowance for Doubtful Accounts | |||
| Bal. | 8,250 | ||
| Adj. | 3,890 | ||
| Bal. | 12,140 | ||
| Prepaid Insurance | |||
| Bal. | 11,900 | Adj. | 5,850 |
| Bal. | 6,050 | ||
| Land | |||
| Bal. | 351,500 | ||
| Building | |||
| Bal. | 618,000 | ||
| Accumulated Depreciation - Buildings | |||
| Bal. | 40,200 | ||
| Adj. | 20,600 | ||
| Bal. | 60,800 | ||
| Equipment | |||
| Bal. | 306,000 | ||
| Accumulated Depreciation - Equipment | |||
| Bal. | 117,500 | ||
| Adj. | 18,850 | ||
| Bal. | 136,350 | ||
| Unearned Revenue | |||
| Adj. | 9,840 | ||
| Salaries and Wages Payable | |||
| Adj. | 3,510 | ||
| Common Shares | |||
| Bal. | 917,890 | ||
| Retained Earnings | |||
| Bal. | 153,500 | ||
| Close | Close | ||
| Bal.Close | Bal.Close | ||
| Sales Revenue | |||
| Adj. | 9,840 | Bal. | 406,500 |
| Bal.Close | Bal.Close | ||
| Total | Total | ||
| Rent Revenue | |||
| Bal.Close | Bal. | 43,560 | |
| Bal.Close | Adj. | 3,960 | |
| Total | Total | ||
| Bad Debts Expense | |||
| Adj. | 3,890 | Bal.Close | |
| Total | Total | ||
| Utilities Expense | |||
| Bal. | 74,800 | Bal.Close | |
| Total | Total | ||
| Repairs and Maintenance Expense | |||
| Bal. | 55,500 | Bal.Close | |
| Total | Total | ||
| Insurance Expense | |||
| Adj. | 5,850 | Bal.Close | |
| Total | Total | ||
| Salaries and Wages Expense | |||
| Bal. | 92,000 | Bal.Close | |
| Adj. | 3,510 | Bal.Close | |
| Total | Total | ||
| Depreciation Expense | |||
| Adj. | 20,600 | Bal.Close | |
| Adj. | 18,850 | Bal.Close | |
| Total | Total | ||
| Income Summary | |||
| Bal.CloseExpensesRevenues | Bal.CloseExpensesRevenues | ||
| Bal.CloseExpensesRevenues | Bal.CloseExpensesRevenues | ||
| Total | Total | ||
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Accounting Principles Volume 1 And Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
9th Canadian Edition
1119786649, 978-1119786641
