E4-7 - 2228 Salaries Expense 1344 Miscellaneous Expense 256...

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Emil Skoda Company had the following adjusted trial balance. EMIL SKODA COMPANY Adjusted Trial Balance June 30, 2008 Adjusted Trial Balance Account Titles Debits Credit s Cash $3,712 Accounts Receivable 3,904 Supplies 480 Accounts Payable $1,792 Unearned Revenue 160 Common Stock 5,000 Retained Earnings 760
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Dividends 300 Service Revenue 4,064 Salaries Expense 1,344 Miscellaneous Expense 256 Supplies Expense 2,228 Salaries Payable 448 $12,224 $12,224 Instructions (a) Prepare closing entries at June 30, 2008. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.) Description/Account Debit Credit Service Revenue 4064 Income Summary 4064 (To close revenue.) Income Summary 3828
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Supplies Expense
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Unformatted text preview: 2228 Salaries Expense 1344 Miscellaneous Expense 256 (To close expenses.) Income Summary 236 Retained Earnings 236 (To close net income to retained earnings.) Retained Earnings 300 Dividends 300 (To close dividends to capital.) (b) Prepare a post-closing trial balance. (If answer is zero, please enter 0. Do not leave any fields blank.) EMIL SKODA COMPANY Post-Closing Trial Balance June 30, 2008 Adjusted Trial Balance Account Titles Debits Credit s Cash $ 3712 $ 0 Accounts Receivable 3904 0 Supplies 480 0 Accounts Payable 0 1792 Salaries Payable 0 448 Unearned Revenue 0 160 Common Stock 0 5000 Retained Earnings 0 696 $ 8096 $ 8096...
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This note was uploaded on 07/31/2011 for the course ACCT 557 taught by Professor Kahn during the Spring '10 term at Strayer.

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E4-7 - 2228 Salaries Expense 1344 Miscellaneous Expense 256...

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