Activity 1 Preparing the Closing Entries Listed below are the accounts taken from the December 31, 2019 adjusted trial balance of DRA. ABRYL RECTO. DRA. ABRYL RECTO Adjusted Trial Balance December 31, 2019 Cash Accounts Receivable Allowance for Bad Debts 7,550 Prepaid Supplies Medical Equipment Accum. Depreciation-Medical Equipt. 450,131 Vehicle Accum. Depreciation - Vehicle 336,000 Accounts Payable 43,200 Unearned Professional Fees 47,000 Mortgage Payable 1,230,000 A. Recto, Capital 1,885,555 A. Recto, Drawing 5,000 Professional Fees 800,870 Salary Expense 123,400 Rebt Expense 50,000 Telephone Expense 14,000 Utilities Expense 7,000 Repairs Expense 10,003 Total 4,800,306 4,800,306 1,350,403 205,000 11,500 1,964,000 1,060,000

Activity 1 Preparing the Closing Entries Listed below are the accounts taken from the December 31, 2019 adjusted trial balance of DRA. ABRYL RECTO. DRA. ABRYL RECTO Adjusted Trial Balance December 31, 2019 Cash Accounts Receivable Allowance for Bad Debts 7,550 Prepaid Supplies Medical Equipment Accum. Depreciation-Medical Equipt. 450,131 Vehicle Accum. Depreciation - Vehicle 336,000 Accounts Payable 43,200 Unearned Professional Fees 47,000 Mortgage Payable 1,230,000 A. Recto, Capital 1,885,555 A. Recto, Drawing 5,000 Professional Fees 800,870 Salary Expense 123,400 Rebt Expense 50,000 Telephone Expense 14,000 Utilities Expense 7,000 Repairs Expense 10,003 Total 4,800,306 4,800,306 1,350,403 205,000 11,500 1,964,000 1,060,000

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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