Thad decided to end the Smith Computer Center's first year as of September 30, 201X. Following is
Question:
Thad decided to end the Smith Computer Center's first year as of September 30, 201X. Following is an updated chart of accounts.
Assets
1000 Cash
1020 Accounts Receivable
1025 Prepaid Rent
1030 Supplies
1080 Computer Shop Equip.
1081 Accum. Depr., C.S. Equip.
1090 Office Equipment
1091 Accum. Depr., Office Equip.
Liabilities
2000 Accounts Payable
Owner's Equity
3000 T. Feldman, Capital
3010 T. Feldman, Withdrawals
3020 Income Summary
Revenue
4000 Service Revenue
Expenses
5010 Advertising Expense
5020 Rent Expense
5030 Utilities Expense
5040 Phone Expense
5050 Supplies Expense
5060 Insurance Expense
5070 Postage Expense
5080 Depr. Exp., C.S. Equip.
5090 Depr. Exp., Office Equip.
Assignment
1. Journalize the adjusting entries from Chapter 4.
2. Post the adjusting entries to the ledger.
3. Journalize the closing entries.
4. Post the closing entries to the ledger.
5. Prepare a post-closing trial balance.
Step by Step Answer:
College Accounting A Practical Approach Chapters 1-25
ISBN: 9780133791006
13th Edition
Authors: Jeffrey Slater