Question
The adjusted trial balance for Cullumber Company is below. CULLUMBER COMPANY Adjusted Trial Balance December 31, 2024 Account No. Account Titles Dr. Cr. 101 Cash
The adjusted trial balance for Cullumber Company is below.
CULLUMBER COMPANY Adjusted Trial Balance December 31, 2024 | ||||||
---|---|---|---|---|---|---|
Account No. | Account Titles | Dr. | Cr. | |||
101 | Cash | 9,300 | ||||
112 | Accounts receivable | 10,200 | ||||
130 | Prepaid insurance | 2,100 | ||||
157 | Equipment | 25,000 | ||||
158 | Accumulated depreciationequipment | 5,550 | ||||
201 | Accounts payable | 9,900 | ||||
212 | Salaries payable | 2,100 | ||||
301 | L. Cullumber, capital | 22,300 | ||||
306 | L. Cullumber, drawings | 12,100 | ||||
400 | Service revenue | 57,950 | ||||
622 | Repairs expense | 2,600 | ||||
711 | Depreciation expense | 3,700 | ||||
722 | Insurance expense | 2,300 | ||||
726 | Salaries expense | 28,700 | ||||
732 | Utilities expense | 1,800 |
| |||
Totals | $97,800 | $97,800 |
A) Prepare an income statement. L. Cullumber did not make any additional investments during the year.
B) Prepare a statement of owners equity. L. Cullumber did not make any additional investments during the year. (List items that increase Owner's Equity first.)
C) Prepare a classified balance sheet. (List Current Assets in the order of liquidity.)
D) Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)
E) Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)
F) Prepare a post-closing trial balance. (Do not list those accounts that have zero ending balance.)
**PLEASE ANSWER ALL OF THE QUESTIONS!!**
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