Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Return to question 2 Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December

image text in transcribed
image text in transcribed
Return to question 2 Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December 31, 2021, appears below. December 31 is the company's fiscal year-end. Credit Part 1 of 5 Debit $30,300 12.300 0 4,00 10,000 106,000 48.000 10 Doints Account Cash Account Receivable Interest Receivable Supplies Prepaid Mant Land Totes Receivable Account Tayable Salaries Payable Deferred avenue ulitis Payable Common Stock Netsited Earning Tervice Rene Interest Revenge Salariu pense Bent pense Supplies Expense Utilities Sapen.se Totale $11,500 4,700 143.600 23.900 10.200 . 31,500 5.200 $256,100 1256,100 In addition, the company had the following year-end adjusting entries MC PO 2 4 6 NON completion. Return to question 2 Rent Expense Supplies Expense Utilities Expense Totale 5.200 $256.100 $256.100 af 5 In addition, the company had the following year-end adjusting entries. Credits Debita 3.500 2.200 2.700 3,500 2,200 .. Balaries Expense Salaries Payable b. Interest Receivable Interest Revente c. Supplies Expense Supplies d. Deferred Revenue service Revet e. Nent Expense Drepaid Rent Utilities Expense Us Payable 2.700 4.700 4.700 6.800 6.800 1,600 1.500 Required: 1,2. & 6. Enter the unadjusted balances from the trial balance and post the adjusting entries to the accounts, and post the closing entries to the T-accounts

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

More Books

Students also viewed these Accounting questions

Question

Using loop analysis, find I0 in the network shown. 12ZTV 2 2 I,

Answered: 1 week ago