Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Requirement 1. Prepare the September closing entries for Crazy Coffee, Inc. (Record debits first, then credits. Exclude explanations from any journal entries.) Begin by closing

image text in transcribedimage text in transcribedimage text in transcribed

Requirement 1. Prepare the September closing entries for Crazy Coffee, Inc. (Record debits first, then credits. Exclude explanations from any journal entries.) Begin by closing out the revenue accounts. Journal Entry Date Accounts Debit Credit Sep Close out the expense accounts. Journal Entry Date Accounts Debit Credit Sep Close out the Dividends account. Journal Entry Date Accounts Debit Credit Sep Requirement 2. Calculate the ending balance in Retained earnings. Select the labels and enter the amounts to calculate the ending balance in Retained earnings. = Ending retained earnings Requirement 3. Prepare a post-closing trial balance. Crazy Coffee, Inc. Post-Closing Trial Balance September 30, 2018 Account Debit Credit Total Choose from any list or enter any number in the input fields and then continue to the next question. Data Table Requirements Crazy Coffee, Inc. Adjusted Trial Balance September 30, 2018 1. Prepare the September closing entries for Crazy Coffee, Inc. 2. Calculate the ending balance in Retained earnings. 3. Prepare a post-closing trial balance. Account Debit Credit Print Done $ 6,400 15,000 3,200 400 33,000 $ Cash Accounts receivable Prepaid rent Supplies Equipment Accumulated depreciation, equipment Accounts payable Unearned service revenue Salaries payable Notes payable Common stock Retained earnings Dividends Service revenue 2,700 5,200 2,200 1,500 9,000 14,250 9,900 9,000 49,000 Interest revenue 400 Salaries expense 18,500 5,700 Rent expense Depreciation expense, equipment Utilities expense 2,000 700 250 Supplies expense $ 94,150 $ 94,150 Total Print Done

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_2

Step: 3

blur-text-image_3

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

Accounting

Authors: Charles T. Horngren, Walter T. Harrison

7th Edition

0132439603, 9780132439602

More Books

Students also viewed these Accounting questions

Question

Draw the shear and moment diagram for thebeam 4 kip/ft 12 ft 12 t

Answered: 1 week ago

Question

=+7. Are shareholders in a firm investors or gamblers?

Answered: 1 week ago