ACT 300 - Module 3 Option 2.xlsx - PREPARING ADJUSTING...

This preview shows page 1 - 4 out of 5 pages.

PREPARING ADJUSTING ENTRIES, CLOSING ENTRIES, AND A POST-CLOSING TRIAL BALANCE1Preparing Adjusting Entries, Closing Entries and a Post-Closing TrialBalanceNameACT300 Principles of Accounting ITeacher NameDate
PREPARING ADJUSTING ENTRIES, CLOSING ENTRIES, AND A POST-CLOSING TRIAL BALANCE2AccountAdjusted trial balanceDebitCreditCash$25,000Accounts receivable15,000Office equipment29,600Accumulated depreciation—Office equipment$5,000Notes payable16,700Virginia Travel, Capital stock30,260Virginia Travel, Dividends1,000Fees earned75,000Salaries expense32,800Rent expense16,800Depreciation expense—Office equipment3,960Office supplies expense2,800Totals$126,960$126,960Virginia TravelPost-Closing Trial BalanceDecember 31Account balancesAccountDebitCreditCash$25,000Accounts receivable15,000Office equipment29,600Accumulated depreciation—Office equipment$5,000Notes payable16,700Capital Stock30,260Retained Earnings17,640Totals$69,600$69,600
PREPARING ADJUSTING ENTRIES, CLOSING ENTRIES, AND A POST-CLOSING TRIAL BALANCE3Closing EntriesDateRevenue account

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 5 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Fall
Professor
N/A
Tags
Accounting, Critical Thinking, Revenue, Trial Balance, Generally Accepted Accounting Principles, post closing trial balance, Colorado State University, Virginia Travel

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture