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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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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03:36:23 eBook 4 Hint Print References 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 View transaction list 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
Transcribed Image Text:03:36:23 eBook 4 Hint Print References 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 View transaction list 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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