Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The adjusted trial balance shown below is for Ezy Auto Parts at the end of its reporting period 30 June 2020. Account Name Adjusted Trial

The adjusted trial balance shown below is for Ezy Auto Parts at the end of its reporting period 30 June 2020. Account Name Adjusted Trial Balance Debit $ Credit $ Cash at Bank 99 500 Accounts Receivable 60 000 Prepaid Rent 5 000 Plant 300 000 Accumulated. Depreciation Plant 145 000 Accounts Payable 45 000 Wages Payable 15 000 Unearned Sales Revenue 0 Capital Ezy 250 000 Sales Revenue 275 000 Drawings Ezy 500 Wages Expense 195 000 Telephone Expense 15 000 Rent Expense 30 000 Depreciation Expense 25 000 Totals 730 000 730 000 Required a) Prepare the required closing entries for Ezy Auto Parts for the year ended 30 June 2020. Narrations are required.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Banking And Finance Issues In Emerging Markets

Authors: William A. Barnett

1st Edition

1787564541, 9781787564541

More Books

Students also viewed these Accounting questions