Question
. Prepare the closing entries for December 31, 2017 for ABC Piano School given its adjusted trial balance below: ABC Piano School Adjusted Trial Balance
. Prepare the closing entries for December 31, 2017 for ABC Piano School given its adjusted trial balance below:
ABC Piano School
Adjusted Trial Balance
December 31, 2017
Debit Credit
Cash$ 7000
Accounts Receivable3000
Piano31000
Accumulated Depreciation, Piano$ 27,000
Salaries Payable700
ABC, Capital17200
ABC, Withdrawal2300
Teaching Revenue38000
Salaries Expense30000
Depreciation Expense, Piano5000
Utilities Expense4600
Totals$82900$82.900
2.Prepare the post closing trial balance for December 31, 2017
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Financial And Managerial Accounting
Authors: Charles T Horngren, Jr Walter T Harrison
2nd Edition
0135080193, 9780135080191
