Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ne accounts of Taylor Electronics Company are listed alone with their adjusted balances before closing for the month ended June 30, 2019. Prepare the POST-CLOSE

image text in transcribed
image text in transcribed
ne accounts of Taylor Electronics Company are listed alone with their adjusted balances before closing for the month ended June 30, 2019. Prepare the POST-CLOSE TRIAL BALANCE. Prepaid Expenses Inventory Note Payable, Long-Term Salary Payable Supplies Expense Utilities Expense Sales Revenue Rent Expense Supplies Unearned Sales Revenue $ 8,200 39,000 46,000 2,700 2,500 7,500 350,000 38,000 6,000 13.800 Accounts payable Accounts receivable Accumulated depreciation Taylor, Capital, June 1 Taylor, Owner Withdrawals Cash Cost of Goods Sold Equipment Salaries Expense Notes Payable, Short-Term $ 16,700 22,800 37,700 54,100 20,000 8,000 170,000 135,200 65,000 1,200 Taylor Electronice Company Post-Closing Trial Balance June 30, 2019 Account Name D ebit Credit 39,000 46,000 ble, long-term able 2,700 xpense 2,500 Accounts receivat Accumulated dep Taylor, Capital, Jus Taylor, Drawing Cash Cost of goods sold Equipment Salaries Expense Notes payable, sho xpense 7,500 350,000 enue ense 38,000 6,000 sales revenue 13,800 Requirements: 1. Prepare a multi-step income statement 2. Prepared the statement of owner's equity 3. Prepared a classified balance sheet Ashton Appliances Company Income Statement For the month ended June 30, 2019

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

Ethical Obligations And Decision Making In Accounting Text And Cases

Authors: Steven Mintz

6th Edition

1264135947, 9781264135943

More Books

Students also viewed these Accounting questions

Question

What are the two types of life insurance companies?

Answered: 1 week ago

Question

The relevance of the information to the interpreter

Answered: 1 week ago

Question

The background knowledge of the interpreter

Answered: 1 week ago