EXERCISES-Chapter 1-2-3-4

EXERCISES-Chapter 1-2-3-4

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Unformatted text preview: cost of a twelve-month policy purchased on 1, Dec 6. Electricity used in Dec but not yet paid for $ 165 82,880 1, Prepare the necessary adjusting entries using the following titles: Trial Balance Dr. Dr. 80,260 JOHNSON DECORATING Unadjusted TRIAL BALANCE December 31, N Account Title Adjustments - Depreciation Expense Motor Vehicle Expense Insurance Expense Office Supplies Expense Electricity Expense Interest Expense Interest Payable Accrued Expenses Payable Acc Dep-Motor Vehicles Acc Dep-Office Equipt CHAPTER 4 – CLOSING ENTRIES 2. Prepare an adjusted trial balance 5 2/12/2014 The data needed to determine year-end adjustments are as follows: Closing entries Habor Realty–TRIAL BALANCE December 31, N After all revenue & expense have been closed at the end of the fiscal year + Income Summary has a debit of $ 521,900 and a credit of $ 729,350 + Brenda, Capital has a credit balance of $ 405,700 + Brenda, Drawings has a balance of $ 40,000 A, Journalise the entries required to complete the closing of the accounts B, Determine the amount of Brenda, Capital at the end of the period Account Title Cash Supplies Accounts Receivable Prepaid Insurance Office Equipment Acc Dep...
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This document was uploaded on 03/26/2014.

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