1) Given the following adjusted account balances in random order, prepare the closing entries for ABC Company on December 31, 2022. Cash Suzie Sheer, Capital Accounts payable Service revenue Amortization expense-building Salary expense Unearned service revenue Prepaid rent Supplies expense Note payable Land Accounts receivable Accum. amortization-building Interest revenue Interest payable Suzie Sheer, Withdrawals Rent expense Building Supplies Interest expense 35,000 85,000 33,000 84,000 12,000 29,000 24,000 9,000 6,000 71,000 65,000 32,000 12,000 14,000 3,000 20,000 15,000 95,000 4,000 4,000
1) Given the following adjusted account balances in random order, prepare the closing entries for ABC Company on December 31, 2022. Cash Suzie Sheer, Capital Accounts payable Service revenue Amortization expense-building Salary expense Unearned service revenue Prepaid rent Supplies expense Note payable Land Accounts receivable Accum. amortization-building Interest revenue Interest payable Suzie Sheer, Withdrawals Rent expense Building Supplies Interest expense 35,000 85,000 33,000 84,000 12,000 29,000 24,000 9,000 6,000 71,000 65,000 32,000 12,000 14,000 3,000 20,000 15,000 95,000 4,000 4,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
H1
Transcribed Image Text:1) Given the following adjusted account balances in random order, prepare the closing entries for ABC Company on
December 31, 2022.
Cash
Suzie Sheer, Capital
Accounts payable
Service revenue
Amortization expense-building
Salary expense
Unearned service revenue
Prepaid rent
Supplies expense
Note payable
Land
Accounts receivable
Accum. amortization-building
Interest revenue
Interest payable
Suzie Sheer, Withdrawals
Rent expense
Building
Supplies
Interest expense
35,000
85,000
33,000
84,000
12,000
29,000
24,000
9,000
6,000
71,000
65,000
32,000
12,000
14,000
3,000
20,000
15,000
95,000
4,000
4,000
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