Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1 of 4 Cash Account Titles WILDHORSE COMPANY Adjusted Trial Balance August 31, 2024 Accounts receivable Equipment Accumulated depreciation-equipment Accounts payable Unearned revenue S.

Question 1 of 4 Cash Account Titles WILDHORSE COMPANY Adjusted Trial Balance August 31, 2024 Accounts receivable Equipment Accumulated depreciation-equipment Accounts payable Unearned revenue S. Anderson, capital S. Anderson, drawings Service revenue Rent revenue Debit $11,600 5,800 9,900 11,200 Q Search Credit $6,400 2,200 1,300 39,000 36.900 5,300 DEL
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Depreciation expense Salaries expense Utilities expense 3,500 37,700 Question 1 of 4 WILDHORSE COMPANY Adjusted Trial Balance August 31, 2024 \begin{tabular}{|c|c|c|} \hline Account Titles & Debit & Credit \\ \hline Cash & $11,600 & \\ \hline Accounts receivable & 5,800 & \\ \hline Equipment & 9,900 & \\ \hline Accumulated depreciation-equipment & & $6,400 \\ \hline Accounts payable & & 2,200 \\ \hline Unearned revenue & & 1,300 \\ \hline S. Anderson, capital & & 39,000 \\ \hline \end{tabular} S. Anderson, drawings 11,200 Service revenue 36,900 Rent revenue 5,300 Search Equipment Accurnulated Depreciation-Equipment Accounts Payable Unearned Revenue S. Anderson, Capital Total Question 1 of 4 1.31/3 Aug. 31 No Entry No Entry (To close Income Summary) Aug. 31 5. Anderson Drawines 11200 S. Anderson, Caoital (To close Drawings account) Prepare the closing entries. (Credit account titles are outomaticolly indented when omount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount tities and enter O for the amounts. List all debit entriles before credit entries:) Question 1 of 4 1.31/3: Income Summary (To close revenue accounts) Aug 31 (To close expense accounts) Aug, 31 No Entry 37,700 52600 No Entry 0 0 (Toclose income Summary) Prepare a post-closing trial balance at August 31, 2024, (List only those occounts that hove an ending bolance) Prepare T accounts for the accounts affected by the closing entries. Post the closing entries. (Post entries in the order of journal entries presented in the previous part. For balances ending in 0 select "Bal." for the date and 0 for the amount for the normal balance of the account and for the Income Summary occount, enter the ending balance on the credit side)

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

Recommended Textbook for

Standards On Auditing For Ca Students

Authors: Anshul Mittal

1st Edition

8182964962, 978-8182964969

More Books

Students also viewed these Accounting questions

Question

Your boss suggests that you go out with him to dinner.

Answered: 1 week ago