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adjusted ELIOT PAINTING SERVICES Worksheet (Partial) for the year ended 30 June 2019 Adjusted trial balance Credit Balance sheet Debit Income statement Account Debit Debit Credit Credit Cash at Bank 1 230 Accounts Receivable Prepaid Rent Office Supplies 75 600 1 800 8 320 Equipment Accum. Depr. Equip't Accounts Payable 160 000 25 000 54 000 Salaries Payable Unearned Revenue F. Elliot, Capital F. Elliot, Drawings Painting Revenue Salaries Expense Rent Expense Depreciation Expense Telephone Expense 8 760 3 430 101 500 22 000 219 650 106 000 6 050 8 040 4 020 Office Supplies Used 10 080 Sundry Expenses 9 200 $412 340 5412 340 Profit for the period Required: a) Complete the worksheet. b) Prepare the closing entries necessary at 30 June 2019, assuming that this date is the end of the entity's accounting period

adjusted ELIOT PAINTING SERVICES Worksheet (Partial) for the year ended 30 June 2019 Adjusted trial balance Credit Balance sheet Debit Income statement Account Debit Debit Credit Credit Cash at Bank 1 230 Accounts Receivable Prepaid Rent Office Supplies 75 600 1 800 8 320 Equipment Accum. Depr. Equip't Accounts Payable 160 000 25 000 54 000 Salaries Payable Unearned Revenue F. Elliot, Capital F. Elliot, Drawings Painting Revenue Salaries Expense Rent Expense Depreciation Expense Telephone Expense 8 760 3 430 101 500 22 000 219 650 106 000 6 050 8 040 4 020 Office Supplies Used 10 080 Sundry Expenses 9 200 $412 340 5412 340 Profit for the period Required: a) Complete the worksheet. b) Prepare the closing entries necessary at 30 June 2019, assuming that this date is the end of the entity's accounting period

FINANCIAL ACCOUNTING
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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adjusted ELIOT PAINTING SERVICES Worksheet (Partial) for the year ended 30 June 2019 Adjusted trial balance Credit Balance sheet Debit Income statement Account Debit Debit Credit Credit Cash at Bank 1 230 Accounts Receivable Prepaid Rent Office Supplies 75 600 1 800 8 320 Equipment Accum. Depr. Equip't Accounts Payable 160 000 25 000 54 000 Salaries Payable Unearned Revenue F. Elliot, Capital F. Elliot, Drawings Painting Revenue Salaries Expense Rent Expense Depreciation Expense Telephone Expense 8 760 3 430 101 500 22 000 219 650 106 000 6 050 8 040 4 020 Office Supplies Used 10 080 Sundry Expenses 9 200 $412 340 5412 340 Profit for the period Required: a) Complete the worksheet. b) Prepare the closing entries necessary at 30 June 2019, assuming that this date is the end of the entity's accounting period
Transcribed Image Text:adjusted ELIOT PAINTING SERVICES Worksheet (Partial) for the year ended 30 June 2019 Adjusted trial balance Credit Balance sheet Debit Income statement Account Debit Debit Credit Credit Cash at Bank 1 230 Accounts Receivable Prepaid Rent Office Supplies 75 600 1 800 8 320 Equipment Accum. Depr. Equip't Accounts Payable 160 000 25 000 54 000 Salaries Payable Unearned Revenue F. Elliot, Capital F. Elliot, Drawings Painting Revenue Salaries Expense Rent Expense Depreciation Expense Telephone Expense 8 760 3 430 101 500 22 000 219 650 106 000 6 050 8 040 4 020 Office Supplies Used 10 080 Sundry Expenses 9 200 $412 340 5412 340 Profit for the period Required: a) Complete the worksheet. b) Prepare the closing entries necessary at 30 June 2019, assuming that this date is the end of the entity's accounting period
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