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Posted: December 23rd, 2022
At the end of a month, a business shows the following balances in its ledger.
At the end of a month, a business shows the following balances in its ledger.Please use this data to prepare a trial balance.Account TitleDebitCreditChapter 3: Below is the adjusted trial balance for Parsons Repair Service. Please prepare the balance sheet at December 31, 2012.AccountsDebitCreditCash$1,600Accounts receivable2,400Prepaid rent800Supplies200Building14,000Accumulated depreciation$2,000Accounts payable4,200Salary payable1,000Unearned revenue800D. Parsons, capital6,000D. Parsons, drawing1,000Service revenue50,000Salary expense21,000Rent expense14,000Depreciation expense8,500Supplies expense500Total$64,000$64,000Chapter 4: The following is the adjusted trial balance for Tuttle Photography.AccountsDebitCreditCash$15,000Accounts receivable30,000Prepaid insurance7,500Office supplies3,200Land40,000Building160,000Accumulated depreciation$12,000Equipment75,000Accumulated depreciation8,500Accounts payable12,000Salaries payable2,000Unearned service revenue25,000Mortgage payable100,000R. Tuttle, capital21,290R. Tuttle, drawing23,000Service revenue289,000Salaries expense61,000Depreciation expense6,150Supplies expense14,040Insurance expense14,000Utilities expense20,900$469,790$469,790Using the information from the worksheet above, prepare the closing entry for Expenses.Chapter 5: An adjusted trial balance is shown below.DebitCreditCash$12,600Accounts receivable2,400Prepaid rent800Inventory30,000Accounts payable$4,200Salary payable1,000Notes payable800Capital13,800Drawing1,000Sales revenue96,000Sales returns and allowances1,600Sales discounts400Cost of goods sold23,000Salary expense21,000Rent expense14,000Depreciation expense8,500Supplies expense500Total$115,800$115,800Please prepare the second closing entry.
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