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Question 3 (20 marks) A company has the following adjusted trial balance: Account Debit Cash Accounts Receivable Inventory Supplies Prepaid Rent Land Building Accumulated Depreciation
Question 3 (20 marks) A company has the following adjusted trial balance: Account Debit Cash Accounts Receivable Inventory Supplies Prepaid Rent Land Building Accumulated Depreciation Accounts Payable Unearned Revenue Notes Payable, due 2020 Common Stock Retained Earnings Dividends Service Revenue Rent Expense Supplies Expense Salaries Expense Depreciation Expense Utilities Expense Totals $900 1200 2000 2000 300 6500 40,000 800 1200 1300 6100 1400 1400 $65,100 Credit $8500 7200 4400 2600 6400 2900 33,100 $65,100 Requirement: All adjustments have been journalized and posted, but the closing entries have not yet been made. Journalize the companies' closing entries.
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