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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

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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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
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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