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The Adjusted Trial Balance section of the worksheet for Van Zant Janitorial Supplies follows. The owner made no additional investments during the year. Accounts Debit
The Adjusted Trial Balance section of the worksheet for Van Zant Janitorial Supplies follows. The owner made no additional investments during the year.
Accounts | Debit | Credit | ||||
Cash | $ | 19,100 | ||||
Accounts Receivable | 60,300 | |||||
Allowance for Doubtful Accounts | $ | 170 | ||||
Merchandise Inventory | 186,700 | |||||
Supplies | 7,190 | |||||
Prepaid Insurance | 3,110 | |||||
Equipment | 51,500 | |||||
Accumulated DepreciationEquipment | 18,300 | |||||
Accounts Payable | 9,200 | |||||
Social Security Tax Payable | 1,440 | |||||
Medicare Tax Payable | 360 | |||||
Steven Van Zant, Capital | 279,540 | |||||
Steven Van Zant, Drawing | 74,500 | |||||
Income Summary | 180,500 | 186,700 | ||||
Sales | 775,500 | |||||
Sales Returns and Allowances | 14,900 | |||||
Purchases | 487,400 | |||||
Freight In | 5,900 | |||||
Purchases Returns and Allowances | 9,000 | |||||
Purchases Discounts | 5,800 | |||||
Rent Expense | 34,300 | |||||
Telephone Expense | 6,290 | |||||
Salaries Expense | 123,640 | |||||
Payroll Taxes Expense | 12,200 | |||||
Supplies Expense | 7,100 | |||||
Insurance Expense | 1,610 | |||||
Depreciation ExpenseEquipment | 8,600 | |||||
Uncollectible Accounts Expense | 1,170 | |||||
Totals | $ | 1,286,010 | $ | 1,286,010 | ||
Prepare a postclosing trial balance for the firm on December 31, 2019.
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