The adjusted trial balance for Mosquera Golf Club at its October 31, 2014, year end included the
Question:
The adjusted trial balance for Mosquera Golf Club at its October 31, 2014, year end included the following:
(a) Prepare closing entries.
(b) Using T accounts, post the closing entries and calculate the balance in each account.
Transcribed Image Text:
Debit $ 7,500 3,000 65,000 Credit Cash Prepaid expenses Equipment Accumulated depreciation-equipment Accounts payable Unearned revenue N. Mosquera, capital N. Mosquera, drawings Service revenue Maintenance expense Rent expense Salaries expense $15,000 14,000 1,500 65,000 45,000 130,000 23,000 10,000 72,000
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a Oct 31 Service Revenue 130000 Income Summary 130000 31 Income Summary ...View the full answer
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Related Book For
Accounting Principles Part 1
ISBN: 978-1118306789
6th Canadian edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
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