0 inces The December 31, 2024, adjusted trial balance for Badger Corporation is presented below. Credit Debit $17,000 170,000 Accounts Cash Accounts Receivable. Prepaid Rent Supplies Land Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Utilities Expense Interest Expense Totale 5,000 34,000 285,000 404,000 24,000 44,000 7,000 $990,000 Required: 1. Record the necessary closing entries at December 31, 2024. 2. Prepare a post-closing trial balance. $16,000 15,000 7,000 44,000 320,000 68,000 520,000 $990,000
0 inces The December 31, 2024, adjusted trial balance for Badger Corporation is presented below. Credit Debit $17,000 170,000 Accounts Cash Accounts Receivable. Prepaid Rent Supplies Land Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Utilities Expense Interest Expense Totale 5,000 34,000 285,000 404,000 24,000 44,000 7,000 $990,000 Required: 1. Record the necessary closing entries at December 31, 2024. 2. Prepare a post-closing trial balance. $16,000 15,000 7,000 44,000 320,000 68,000 520,000 $990,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The December 31, 2024, adjusted trial balance for Badger Corporation is presented below.
Debit
$17,000
170,000
5,000
34,000
285,000
Accounts
Cash
Accounts Receivable
Prepaid Rent
Supplies
Land
Accounts Payable
Salaries Payable
Interest Payable
Notes Payable (due in two years)
Common Stock
Retained Earnings
Service Revenue
Salaries Expense
Rent Expense
Utilities Expense
Interest Expense
Totals
Required:
1. Record the necessary closing entries at December 31, 2024.
2. Prepare a post-closing trial balance.
404,000
24,000
44,000
7,000
$990,000
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Journal entry worksheet
2
Credit
Complete this question by entering your answers in the tabs below.
$16,000
15,000
7,000
44,000
Required 1 Required 2
Record the necessary closing entries at December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal
Entry Required in the first account field.)
Record the entry to close the expense accounts.
320,000
68,000
520,000
$990,000
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