Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

WU DELIVERY SERVICES Adjusted Trial Balance December 31, 2021 Debit Credit Accounts Payable Accounts Receivable $3,420 $2,000 Accumulated Depreciation - Equipment 18,864 Cash 12,600 D.

WU DELIVERY SERVICES Adjusted Trial Balance December 31, 2021 Debit Credit Accounts Payable Accounts Receivable $3,420 $2,000 Accumulated Depreciation - Equipment 18,864 Cash 12,600 D. Wu, Capital 7.800 D. Wu, Drawings 1,200 Equipment 39,300 Depreciation Expense 1,200 Insurance Expense 1.200 Interest Expense 240 Interest Expense Interest Payable 240 100 Prepaid Insurance 1,800 Salaries Expense 12,200 Salaries Payable 1,100 Service Revenue 44,616 Supplies 690 Supplies Expense 1,680 Repairs Expense 770 Utilities Expense 1,020 $75,900 $75,900 Prepare closing entries for Wu Delivery Services. (Credit account titles are automatically indented when the amount is entered indent manually.) Date Account Titles and Explanation Dec. 31 Dec. 31 (To close revenue account) Debit Credit Dec. 31 (To close expense accounts) Dec. 31 (To close income summary) (To close drawings account)

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

Cima Official Exam Practice Kit Financial Operations

Authors: Jo Watkins

5th Edition

1856177335, 978-1856177337

More Books

Students also viewed these Accounting questions

Question

Briefly describe the ABC Inventory Classification System.

Answered: 1 week ago

Question

What did they do? What did they say?

Answered: 1 week ago