Accounts payable Accounts receivable Accumulated depreciation-equipment Bank loan payable Cash Common shares Deferred revenue Depreciation expense Dividends declared $3,460 4,580 5,370 7,500 16,330 22,200 2,940 1,790 200 Interest payable Prepaid rent Rent expense Salaries expense Salaries payable Service revenue Supplies Supplies expense Utilities expense $190 3,060 740 6,500 1,390 11,750 2,190 620 410
Accounts payable Accounts receivable Accumulated depreciation-equipment Bank loan payable Cash Common shares Deferred revenue Depreciation expense Dividends declared $3,460 4,580 5,370 7,500 16,330 22,200 2,940 1,790 200 Interest payable Prepaid rent Rent expense Salaries expense Salaries payable Service revenue Supplies Supplies expense Utilities expense $190 3,060 740 6,500 1,390 11,750 2,190 620 410
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Do not give answer in image
Transcribed Image Text:The ledger of Ivanhoe Corporation has the following account balances at the company's first year end of October 31, 2025.
Accounts payable
Accounts receivable
Accumulated depreciation-equipment
Bank loan payable
Cash
Common shares
Deferred revenue.
Depreciation expense
Dividends declared
Equipment
Interest expense
$3,460
4,580
5,370
7,500
16,330
22,200
2,940 Supplies
1,790
200
Interest payable
Prepaid rent
Rent expense
Salaries expense
Salaries payable
Service revenue
17,900
480
Supplies expense
Utilities expense
$190
3,060
740
6,500
1,390
11,750
2,190
620
410
Transcribed Image Text:Prepare the closing entries at October 31, 2025. (Credit account titles are automatically indented when amount is entered. Do not
indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the
amounts.)
Date Account Titles and Explanation
Oct. 31
Oct. 31
(To close revenue account)
Debit
00000
Credit
00000
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