23. Prepare closing entries rom the following end-of period spreadsheet. Austin Entergrises Fadof Peried Spreadsheet For the Year Eaded December JI Adnted Trial Balance Credit Income Statement Debt Balance Sheet Deb 26.500 7000 Account Titie Crede Debit Crede 26,500 7,000 1,000 18300 Cash Accounts Receivable Supplies Equipment Accumalated Depr 18.500 5.000 5.000 Accoures Payabie Wages Payable Common Stock Retained arnings Dividends Eees Earmed Wages Eapense Rest Esgeme Depreciation Eapense Toals Net omeLo) 11,000 100 6.000 2.000 1000 1,000 6.000 2.000 2.000 2,000 59.500 59.500 19,000 7.000 3.00 19000 7000 3.300 .500 .500 29,500 20.0 59.500 5.000 25,000 20.000
23. Prepare closing entries rom the following end-of period spreadsheet. Austin Entergrises Fadof Peried Spreadsheet For the Year Eaded December JI Adnted Trial Balance Credit Income Statement Debt Balance Sheet Deb 26.500 7000 Account Titie Crede Debit Crede 26,500 7,000 1,000 18300 Cash Accounts Receivable Supplies Equipment Accumalated Depr 18.500 5.000 5.000 Accoures Payabie Wages Payable Common Stock Retained arnings Dividends Eees Earmed Wages Eapense Rest Esgeme Depreciation Eapense Toals Net omeLo) 11,000 100 6.000 2.000 1000 1,000 6.000 2.000 2.000 2,000 59.500 59.500 19,000 7.000 3.00 19000 7000 3.300 .500 .500 29,500 20.0 59.500 5.000 25,000 20.000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:23. Prepare closing entries rom the following end-of period spreadsheet.
Austin Entergrises
Fadof Peried Spreadsheet
For the Year Eaded December JI
Adnted Trial Balance
Credit
Income Statement
Debt
Balance Sheet
Deb
26.500
7000
Account Titie
Crede
Debit
Crede
26,500
7,000
1,000
18300
Cash
Accounts Receivable
Supplies
Equipment
Accumalated Depr
18.500
5.000
5.000
Accoures Payabie
Wages Payable
Common Stock
Retained arnings
Dividends
Eees Earmed
Wages Eapense
Rest Esgeme
Depreciation
Eapense
Toals
Net omeLo)
11,000
100
6.000
2.000
1000
1,000
6.000
2.000
2.000
2,000
59.500
59.500
19,000
7.000
3.00
19000
7000
3.300
.500
.500
29,500
20.0
59.500 5.000
25,000
20.000
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