Question
The adjusted trial balance for Sunland Company is given below. SUNLAND COMPANY Trial Balance August 31, 2017 Before Adjustment After Adjustment Dr. Cr. Dr. Cr.
The adjusted trial balance for Sunland Company is given below. SUNLAND COMPANY Trial Balance August 31, 2017 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $11,860 $11,860 Accounts Receivable 8,650 9,240 Supplies 2,810 1,790 Prepaid Insurance 4,150 2,700 Equipment 16,900 16,900 Accumulated DepreciationEquipment $3,803 $5,003 Accounts Payable 5,130 5,130 Salaries and Wages Payable 0 1,310 Unearned Rent Revenue 1,820 920 Common Stock 15,540 15,540 Retained Earnings 5,180 5,180 Dividends 2,940 2,940 Service Revenue 34,790 35,380 Rent Revenue 12,010 12,910 Salaries and Wages Expense 16,970 18,280 Supplies Expense 0 1,020 Rent Expense 13,993 13,993 Insurance Expense 0 1,450 Depreciation Expense 0 1,200 $78,273 $78,273 $81,373 $81,373 Prepare the closing entries for the temporary accounts at August 31. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Aug. 31 (To close revenue accounts) Aug. 31 (To close expense accounts) Aug. 31 (To close income / (loss)) Aug. 31 (To close dividends)
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