Business
Managerial Accounting
The adjusted trial balance for Hercules Company is presented below.

The adjusted trial balance for Hercules Company is presented below. Instructions (a) Prepare the closing entries. (b)

Question:

The adjusted trial balance for Hercules Company is presented below.

Instructions
(a) Prepare the closing entries.
(b) Prepare T accounts for the accounts affected by the closing entries. Post the closing entries.
(c) Prepare a post-closing trial balance at August 31, 2017.

Transcribed Image Text:

HERCULES COMPANY Adjusted Trial Balance August 31, 2017 Credit Accumulated depreciation-equipment 12,000 Depreciation expense

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a Aug 31 Service Revenue 42400 Rent Revenue 6100 Income Summary 48500 31 Income Summary 4 9...View the full answer

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Question Posted: May 16, 2017 10:07 AM

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