Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The alphabetical listing below includes all of the adjusted account balances of Battle Creek, Inc. as of December 31, 2018. All account balances are normal

image text in transcribedimage text in transcribedimage text in transcribed

The alphabetical listing below includes all of the adjusted account balances of Battle Creek, Inc. as of December 31, 2018. All account balances are normal $ 5,000 9,700 3,100 2,300 Accounts Payable Accounts Receivable Accumulated Depreciation Common Stock 3,600 Cash 2,000 1,100 10,200 1,200 1,200 Depreciation Expense Dividends Equipment Income Tax Expense Income Taxes Payable Rent Expense Retained Earnings Salaries and Wages Expense 1,700 4,100 7,500 Service Revenue 18,500 Deferred Revenue 2,800 Required: a. Prepare the closing entries. (lf no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) b. Prepare the post-closing trial balance as of December 31, 2018. (Enter all account balances, including any that may carry a zero- balance.) c. Prepare the classified balance sheet at December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) Complete this question by entering your answers in the tabs below. Required C Required A Required B Prepare the closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit No Transaction Recorded A 1 Retained Earnings B 2 1,100 Dividends 1,100 Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare the post-closing trial balance as of December 31, 2018. (Enter all account balances, including any that may carry a zero-balance.) BATTLE CREEK, INC. Post-Closing Trial Balance At December 31, 2018 Debits Credits Account Name Cash Accounts Receivable Equipment Accumulated Depreciation Accounts Payable Income Tax Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense Depreciation Expense Income Tax Expense 0 Totals Required A Required C Complete this question by entering your answers in the tabs below. Required B Required C Required A Prepare the classified balance sheet at December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) BATTLE CREEK, INC. Balance Statement Current Liabilities: 0 Equipment, Net 0 $ 0 0 Required B Required C>

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

Cases In Auditing

Authors: Josephine Maltby

2nd Edition

1853963127, 978-1853963124

More Books

Students also viewed these Accounting questions