Question
The April 30, 2024, adjusted trial balance of The Grind Finale Inc. is shown below. The Grind Finale Inc. Adjusted Trial Balance April 30,
The April 30, 2024, adjusted trial balance of The Grind Finale Inc. is shown below. The Grind Finale Inc. Adjusted Trial Balance April 30, 2024 ACCOUNT Cash Accounts Receivable DEBIT CREDIT $ 5,600 700 Prepaid Rent 2,300 Supplies 450 Equipment Accumulated Depreciation, Equipment Accounts Payable Unearned Service Revenue 35,000 $ 2,700 900 300 Salaries Payable Notes Payable 525 4,000 Common Shares Retained Earnings 8,500 19,355 Dividends 4,500 Service Revenue 41,800 Interest Revenue 185 Salaries Expense 21,900 Rent Expense 5,500 Depreciation Expense, Equipment 1,650 Utilities Expense 415 Supplies Expense 250 Total $78,265 $78,265 Requirements 1. Prepare the April closing entries for The Grind Finale Inc. 2. Calculate the ending balance in Retained Earnings. 3. Prepare a post-closing trial balance.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started