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The adjusted trial balance columns of the worksheet for Alshwer Company are as follows. ALSHWER COMPANY Worksheet For the Year Ended December 31, 2017 Adjusted
The adjusted trial balance columns of the worksheet for Alshwer Company are as follows.
ALSHWER COMPANY Worksheet For the Year Ended December 31, 2017 | ||||||
Adjusted Trial Balance | ||||||
Account No. | Account Titles | Dr. | Cr. | |||
101 | Cash | 5,400 | ||||
112 | Accounts Receivable | 11,000 | ||||
126 | Supplies | 1,400 | ||||
130 | Prepaid Insurance | 1,800 | ||||
157 | Equipment | 26,500 | ||||
158 | Accumulated DepreciationEquipment | 5,500 | ||||
200 | Notes Payable | 13,200 | ||||
201 | Accounts Payable | 6,200 | ||||
212 | Salaries and Wages Payable | 2,100 | ||||
230 | Interest Payable | 700 | ||||
311 | Common Stock | 10,400 | ||||
320 | Retained Earnings | 4,900 | ||||
332 | Dividends | 6,400 | ||||
400 | Service Revenue | 59,000 | ||||
610 | Advertising Expense | 8,200 | ||||
631 | Supplies Expense | 3,900 | ||||
711 | Depreciation Expense | 5,500 | ||||
722 | Insurance Expense | 3,700 | ||||
726 | Salaries and Wages Expense | 27,500 | ||||
905 | Interest Expense | 700 |
| |||
Totals | 102,000 | 102,000 |
A: Prepare a classified balance sheet (Note: $5240 of the notes payable become due in 2018. List Currents Assets in order of liquidity)
B: Prepare the closing entries
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