at June 30, 2014: CLOUD BREAK CONSULTING Adjusted Trial Balance June 30, 2014 Account Title Debit Credit Cash $131,000 Accounts receivable 119,000 Supplies Prepaid rent 1,000 18,000 Land 45,000 Building Accumulated depreciation–building Accounts payable Salary payable 300,000 $167,000 159,000 1,000 10,000 Uncarned service revenue Moe, capital Moe, drawing 102,000 7,000 Service revenue 495,000 Salary expense 256,000 Supplies expense Rent expense Depreciation expense-building Miscellaneous expense 3,000 34,000 12,000 8,000 Totals $934,000 $934,000 Requirements 1. Prepare Cloud Break's accounting worksheet showing the adjusted trial balance, the income statement accounts, and the balance sheet accounts. 2. Journalize and post Cloud Break's closing entries.
at June 30, 2014: CLOUD BREAK CONSULTING Adjusted Trial Balance June 30, 2014 Account Title Debit Credit Cash $131,000 Accounts receivable 119,000 Supplies Prepaid rent 1,000 18,000 Land 45,000 Building Accumulated depreciation–building Accounts payable Salary payable 300,000 $167,000 159,000 1,000 10,000 Uncarned service revenue Moe, capital Moe, drawing 102,000 7,000 Service revenue 495,000 Salary expense 256,000 Supplies expense Rent expense Depreciation expense-building Miscellaneous expense 3,000 34,000 12,000 8,000 Totals $934,000 $934,000 Requirements 1. Prepare Cloud Break's accounting worksheet showing the adjusted trial balance, the income statement accounts, and the balance sheet accounts. 2. Journalize and post Cloud Break's closing entries.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Use the data from the adjusted trial balance of Cloud Break Consulting at
June 30, 2014:
CLOUD BREAK CONSULTING
Adjusted Trial Balance
June 30, 2014
Account Title
Debit
$131,000
Credit
Cash
Accounts receivable
119,000
Supplies
1,000
18,000
Prepaid rent
Land
45,000
Building
300,000
Accumulated depreciation-building
$167,000
Accounts payable
159,000
Salary payable
1,000
Uncarned scrvice revenue
10,000
Moc, capital
Moc, drawing
102,000
7,000
Service revenue
495,000
Salary expense
Supplics expense
256,000
3,000
34,000
12,000
Rent expense
Depreciation expense-building
Miscellancous expense
8,000
Totals
$934,000 $934,000
Requirements
1. Prepare Cloud Break's accounting worksheet showing the adjusted trial
balance, the income statement accounts, and the balance sheet accounts.
2. Journalize and post Cloud Break's closing entries.
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