8) Prohibition Ltd. trial balance at December 31, 20207, is shown below. Prepare the closing emtries Prohibition Ltd. Trial Balance December 31, 2020 Debit $16,400 Cash Credit Accounts receivable 2,500 Prepaid insurance 3,400 Prepaid rent 6,500 Supplies 3,700 Equipment 27,500 Accumulated depreciation-equipment $10.200 Furniture 15,000 Accumulated depreciation-fumiture 7,600 Accounts payable 5,400 Salary payable 1,400 Unearned revenue 6.500 Common shares 20,600 Retained earnings 15,800 Dividends 3,000 Fees earned 28,900 Salary expense 4.900 Depreciation expense-equipment 3,800 Depreciation expense-furniture 2,500 Rent expense 4,800 Insurance expense 1,200 Supplies expense 500 Advertising expense 200 $26.400 $96.400

8) Prohibition Ltd. trial balance at December 31, 20207, is shown below. Prepare the closing emtries Prohibition Ltd. Trial Balance December 31, 2020 Debit $16,400 Cash Credit Accounts receivable 2,500 Prepaid insurance 3,400 Prepaid rent 6,500 Supplies 3,700 Equipment 27,500 Accumulated depreciation-equipment $10.200 Furniture 15,000 Accumulated depreciation-fumiture 7,600 Accounts payable 5,400 Salary payable 1,400 Unearned revenue 6.500 Common shares 20,600 Retained earnings 15,800 Dividends 3,000 Fees earned 28,900 Salary expense 4.900 Depreciation expense-equipment 3,800 Depreciation expense-furniture 2,500 Rent expense 4,800 Insurance expense 1,200 Supplies expense 500 Advertising expense 200 $26.400 $96.400

Name: 8) Prohibition Ltd. trial balance at December 31, 20207, is shown bel
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Description: 8) Prohibition Ltd. trial balance at December 31, 20207, is shown below. Prepare the closing emtries.Prohíbition Ltd.Trial BalanceDecember 31, 2020CashDebitCredit$16,400Accounts receivable2,500Prepaid insurance3,400Prepaid rent6,500Supplies3,700Equi

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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Subject/Course: Financial Accounting.
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