Question
Use the information in the adjusted trial balance to prepare the closing entries for Stockton Company. Stockton Company Adjusted Trial Balance For the Year Ended
Use the information in the adjusted trial balance to prepare the closing entries for Stockton Company.
Stockton Company | ||
Adjusted Trial Balance | ||
For the Year Ended December 31, 2019 | ||
| Debit | Credit |
Cash | $ 6,030 |
|
Accounts Receivable | 2,100 |
|
Prepaid Expenses | 700 |
|
Equipment | 13,700 |
|
Accumulated Depreciation |
| $ 1,100 |
Accounts Payable |
| 1,900 |
Notes Payable |
| 4,200 |
Capital Stock |
| 2,000 |
Retained Earnings |
| 10,940 |
Dividends | 790 |
|
Fees Earned |
| 8,750 |
Wages Expense | 2,500 |
|
Rent Expense | 1,960 |
|
Utilities Expense | 775 |
|
Depreciation Expense | 250 |
|
Miscellaneous Expense | 85 |
|
Totals | $28,890 | $28,890 |
Format: Enter debits and credits as whole numbers WITH commas, but DO NOT add dollar signs. Please use the Chart of Accounts.
Don't forget to list expenses in descending order! Listing them ANY OTHER WAY will mark them WRONG!!!
Date |
Account Name |
Debit |
Credit |
Dec 31 |
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Dec 31 |
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