Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The adjusted trial balance for Elysian Consulting has the following account balances for the year ending, June 30, 2020: All accounts have normal balances
The adjusted trial balance for Elysian Consulting has the following account balances for the year ending, June 30, 2020: All accounts have normal balances Cash 27,000 Accounts Receivable 53,500 Supplies Office Equipment 900 30,500 Accumulated Depreciation-- 6,000 Office Equipment Accounts Payable 3,300 Salaries Payable 375 R. De Niro, Capital 82,200 R. De Niro, 2,000 Withdrawals Fees Earned 60,000 Salaries Expense 32,375 Supplies Expense 2,100 Depreciation 1,500 Expense Miscellaneous 2,000 Expense Instructions: Using the attached MS Excel file , prepare an Income Statement, Statement of Owner's Equity, and Balance sheet for the year ending June 30, 2020. Also, journalize the closing entries and prepare a Post-Closing Trial Balance.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started