ASSIMILATION ☆ ABM Company POST-CLOSING TRIAL BALANCE Dec. 31, 2016 Accounts Cash in Bank Petty Cash Fund Account Receivable Allowance for Bad debts Notes Receivable Merchandise Inventory Prepaid Expenses Furniture Acc. Dep. -Fumiture Transportation Equipment P Acc. Dep.- Transpo Equipment Accounts Payable Notes Payable-Non Current SSS, Philhealth, HDMF Payable Withholding Taxes Payable Accrued Expenses Pinky Ramos, Capital TOTAL Assets Debit 123,153 10,000 659,340 132.200 774,307 3.200 900,000 1,400,000 Credit 15,000 45,000 140,000 960,300 234,000 4,000 2.600 1,300 2,600,000 P 4,002,200 P 4,002,200 Requirement 1: Compute the accounting equation for the above post-closing trial balance of Pinklane Company as of Dec. 31, 2016. Liabilities Equity

ASSIMILATION ☆ ABM Company POST-CLOSING TRIAL BALANCE Dec. 31, 2016 Accounts Cash in Bank Petty Cash Fund Account Receivable Allowance for Bad debts Notes Receivable Merchandise Inventory Prepaid Expenses Furniture Acc. Dep. -Fumiture Transportation Equipment P Acc. Dep.- Transpo Equipment Accounts Payable Notes Payable-Non Current SSS, Philhealth, HDMF Payable Withholding Taxes Payable Accrued Expenses Pinky Ramos, Capital TOTAL Assets Debit 123,153 10,000 659,340 132.200 774,307 3.200 900,000 1,400,000 Credit 15,000 45,000 140,000 960,300 234,000 4,000 2.600 1,300 2,600,000 P 4,002,200 P 4,002,200 Requirement 1: Compute the accounting equation for the above post-closing trial balance of Pinklane Company as of Dec. 31, 2016. Liabilities Equity

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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