Natale had a very busy December. At the end of the month, after joumalizing and posting theDecember transactions and adjusting entries, Natale prepared the folowing adjusted trial balance.Cookie CreationsAdjusted Trial BalanceDecember 31, 2019No.Account TitlesDebtCredk101Cash1180112Accounts Receivable875126Supples350130Prepaid Insurance1210157Equipment1200158Accumulated Depreciation -Equipment10200Accounts Payable75201Notes Payable2000212Salaries and Wages Payable56230Interest Payable15Owner's CaptalOwner's Dravings301800306500235Uneamed Service Revenue300400Service Revenue4515610Advertšing Expense165631Supplies Expense1025711Depreciation Expense40715ULiRies Expense125722Insurance Expanse110726Salarles and V/ages Expense1006905Interest Expense1578017801Instructions(a) Prepare the cosing entries(b) Post the closing entries. Use the three-column form of account.(C) Prepare a post-cosing tral balance.

Closing entries are to be reported in the books to close the temporary accounts.

2000 56 15 800 201 Notes Payable 212 Saleries and Wages Payable 230 Interest Payable 301 Owner's Captal 306 Owner's Dravings 500 235 Uneamed Servica Revenue 300 400 Service Revenue 4515 610 Advertising Expense 165 631 Supples Expense 1025 711 Depreciation Expense 40 715 UURies Expense 125 722 Insurance Expanse 110 726 Salarles and Vages Expense 1006 905 Interest Expense 15 7801 7801 Instructions (a) Prepare the cosing entries (b) Post the cosing entries. Use the three-column form of account. (c) Prepare a post-cosing tral balance.

2000 56 15 800 201 Notes Payable 212 Saleries and Wages Payable 230 Interest Payable 301 Owner's Captal 306 Owner's Dravings 500 235 Uneamed Servica Revenue 300 400 Service Revenue 4515 610 Advertising Expense 165 631 Supples Expense 1025 711 Depreciation Expense 40 715 UURies Expense 125 722 Insurance Expanse 110 726 Salarles and Vages Expense 1006 905 Interest Expense 15 7801 7801 Instructions (a) Prepare the cosing entries (b) Post the cosing entries. Use the three-column form of account. (c) Prepare a post-cosing tral balance.

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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Account Name Adjusted Trial Balance Debit Credit Cash ₱80,000.00 Accounts Receivable ₱100,000.00 Allowance for Doubtful Accounts ₱44,200.00 Notes Receivable ₱130,000.00 Interest Receivable ₱3,900.00 Merchandise Inventory, beg. ₱ 80,000.00 Prepaid Insurance ₱50,000.00 Prepaid Rent ₱70,000.00 Office Equipment ₱500,000.00 Accumulated Depreciation ₱150,000.00 Accounts Payable ₱30,000.00 Salaries Payable Ya Man, Capital ₱822,000.00 Ya Man, Drawings ₱10,000.00 Sales ₱500,000.00 Sales Returns and Allowances ₱10,000.00 Purchases ₱320,000.00 Freight In ₱3,000.00 Purchase Returns and Allowances ₱10,000.00 Salary Expense ₱40,000.00 Rent Expense ₱14,000.00 Doubtful Accounts Expense ₱39,200.00 Interest Income ₱3,900.00 Insurance Expense ₱10,000.00…
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Cash Accounts Receivables Allowance for Bad Debts Office Supplies Prepaid Insurance Merchandise Inventory, June 1, 2012 Office Equipment Accumulated Depreciation- Office Equipment Store Equipment Accumulated Depreciation - Store Equipment Accounts Payable Salaries Payable Note Payable (final payment due 2025) Rayne Sison, Capital, June 1, 2012 Rayne Sison, Drawing Sales Sales Discounts Sales Returns and Allowances Purchases Purchase Discounts Purchase Returns and Allowances 757,500 Interest Income Gain from Sale of Office 396,000 Equipment 33,000 Advertising Expense 16,800 Office Egg't Depreciation Expense- 10,200 525,000 255,000 Freight-Out 138,400 Depreciation Expense- Store Egoit Freight-In Miscellaneous 759,000 Administrative Expense Miscellaneous Selling 166,800 7,200 102,600 Expense 168,000 1,307,500 Insurance Expense Office Equipment Repair Expense Office Salaries Expense Office Supplies Expense Rent Expense 105,000 Sales Salaries Expense 3,850,000 Store Equipment Repair Expense…
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