The adjusted trial balance shown below is for Austin Pest Control Company at the end of its
Question:
The adjusted trial balance shown below is for Austin Pest Control Company at the end of its current operating year of January 1, 2020 through December 31, 2020.
Austin Pest Control Company
Trial Balance
December 31, 2020
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Debit Credit
Cash ........................................................................................................ $ 12,900
Accounts Receivable .............................................................................. 9,400
Supplies .................................................................................................. 700
Prepaid Insurance .................................................................................. 2,500
Equipment ............................................................................................... 16,000
Accumulated DepreciationEquipment ................................................ $ 5,800
Accounts Payable ................................................................................... 3,100
Salaries and Wages Payable ................................................................. 1,100
Unearned Rent Revenue ........................................................................ 1,500
Common Stock........................................................................................ 15,000
Retained Earnings .................................................................................. 5,600
Dividends ................................................................................................ 5,800
Service Revenue .................................................................................... 34,600
Rent Revenue ......................................................................................... 19,500
Salaries and Wages Expense ................................................................ 23,200
Supplies Expense ................................................................................... 2,800
Rent Expense ......................................................................................... 9,300
Insurance Expense ................................................................................. 2,400
Depreciation Expense............................................................................. 1,200
$86,200 $86,200
Instructions:
- From the information in the above Adjusted Trial Balance, prepare the closing journal entries at December 31, 2020.
- After preparing the closing entries, prepare a Post-Closing Trial Balance.
Expert Answer:
