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1.PREPARE THE closing entries and post closing trial balance. ACCOUNTT TITLE DEBIT CREDIT account payable 60,000 Account receivable 65,000 Bank 38,000 Capital 170,000 Cash 3,000 Comission paid 4,300 Comission received 1,500 Discount Allowed 2,300 Discount Received 3,500 Donations 500 Drawings 500 Fixture and Fittings 35,000 Freight inwards 1000 Freight outward General Expenses 1,400 2300 Insurance premium 3,600 Interest received on investment 5,000 Land and building 80,000 Loan from Mbb 67,500 opening inventory 1 JAN 2019 26,000 Patent 50,000 Printing and stationery 700 Purchases 65,000 Rates and taxes 3,200 Rental paid 4,000 Rental revenue 3,000 Return inwards 1,500 Returns Outwars 1,800 Sales 88,000 Wages and salaries 12,000 Electricity bills 1,566 Accrued Electricity 1,566 Utility bills 500 Depreciation 7,000 Accumulated Depreciation 7,000 unearned Rental Revenue 1,000 Prepaid rental 1,500 Total 409866 409866

1.PREPARE THE closing entries and post closing trial balance. ACCOUNTT TITLE DEBIT CREDIT account payable 60,000 Account receivable 65,000 Bank 38,000 Capital 170,000 Cash 3,000 Comission paid 4,300 Comission received 1,500 Discount Allowed 2,300 Discount Received 3,500 Donations 500 Drawings 500 Fixture and Fittings 35,000 Freight inwards 1000 Freight outward General Expenses 1,400 2300 Insurance premium 3,600 Interest received on investment 5,000 Land and building 80,000 Loan from Mbb 67,500 opening inventory 1 JAN 2019 26,000 Patent 50,000 Printing and stationery 700 Purchases 65,000 Rates and taxes 3,200 Rental paid 4,000 Rental revenue 3,000 Return inwards 1,500 Returns Outwars 1,800 Sales 88,000 Wages and salaries 12,000 Electricity bills 1,566 Accrued Electricity 1,566 Utility bills 500 Depreciation 7,000 Accumulated Depreciation 7,000 unearned Rental Revenue 1,000 Prepaid rental 1,500 Total 409866 409866

Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter10: Payroll Register (pr)
Section: Chapter Questions
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4G Il| 6:18 15.2 4G 78 KB/s exercise 1 1.PREPARE THE closing entries and post closing trial balance. ACCOUNTT TITLE DEBIT CREDIT account payable 60,000 Account receivable 65,000 Bank 38,000 Сapital 170,000 Cash 3,000 Comission paid 4,300 Comission received 1,500 Discount Allowed 2,300 Discount Received 3,500 Donations 500 Drawings 500 Fixture and Fittings 35.000 Freight inwards 1000 Freight outward 1,400 General Expenses 2300 Insurance premium 3,600 Interest received on investment 5,000 Land and building 80,000 Loan from Mbb 67,500 opening inventory 1 JAN 2019 26,000 Patent 50,000 Printing and stationery 700 Purchases 65,000 Rates and taxes 3,200 Rental paid 4,000 Rental revenue 3,000 Return inwards 1,500 Returns Outwars 1,800 Sales 88,000 Wages and salaries 12,000 Electricity bills 1,566 Accrued Electricity 1,566 Utility bills 500 Depreciation 7,000 Accumulated Depreciation 7.000 unearned Rental Revenue 1,000 Prepaid rental 1,500 Total 409866 409866 I U
Transcribed Image Text:4G Il| 6:18 15.2 4G 78 KB/s exercise 1 1.PREPARE THE closing entries and post closing trial balance. ACCOUNTT TITLE DEBIT CREDIT account payable 60,000 Account receivable 65,000 Bank 38,000 Сapital 170,000 Cash 3,000 Comission paid 4,300 Comission received 1,500 Discount Allowed 2,300 Discount Received 3,500 Donations 500 Drawings 500 Fixture and Fittings 35.000 Freight inwards 1000 Freight outward 1,400 General Expenses 2300 Insurance premium 3,600 Interest received on investment 5,000 Land and building 80,000 Loan from Mbb 67,500 opening inventory 1 JAN 2019 26,000 Patent 50,000 Printing and stationery 700 Purchases 65,000 Rates and taxes 3,200 Rental paid 4,000 Rental revenue 3,000 Return inwards 1,500 Returns Outwars 1,800 Sales 88,000 Wages and salaries 12,000 Electricity bills 1,566 Accrued Electricity 1,566 Utility bills 500 Depreciation 7,000 Accumulated Depreciation 7.000 unearned Rental Revenue 1,000 Prepaid rental 1,500 Total 409866 409866 I U
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