Question
SNAPPR PHOTOGRAPHY COMP. ADJUSTED TRIAL BALANCE, JANUARY 31,2018 Dr. Cr. CASH 15.030 ACCOUNTS RECEIVABLE 2.500 OFFICE SUPPLIES 2.500 PREPAID RENT 15.000 EQUIPMENT 150.000 ACCOUNTS PAYABLE
SNAPPR PHOTOGRAPHY COMP. ADJUSTED TRIAL BALANCE, JANUARY 31,2018 | ||
| Dr. | Cr. |
CASH | 15.030 |
|
ACCOUNTS RECEIVABLE | 2.500 |
|
OFFICE SUPPLIES | 2.500 |
|
PREPAID RENT | 15.000 |
|
EQUIPMENT | 150.000 |
|
ACCOUNTS PAYABLE |
| 55.000 |
NOTES PAYABLE |
| 42.730 |
COMMON STOCK |
| 100.000 |
DIVIDEND | 5.000 |
|
SERVICE REVENUE |
| 10.600 |
WAGES EXPENSE | 15.000 |
|
ELECTRICITY EXPENSE | 3.000 |
|
GOOGLE FIBER (INTERNET PROVIDER) EXPENSE | 300 |
|
| 208.330 | 208.330 |
Instructions :
(a) Post the transactions to ledger
(b) Prepare an income statement for January 31, 2018 (
(c) Prepare a retained earnings statement for January 31, 2018
(d) Prepare a balance sheet at January 31
(e) Prepare the closing entries using the ledger (choose a different color when closing the accounts, or identify them as closing entry)
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