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Catena's Marketing Company has the following adjusted trial balance at the end of the current year Cash dividends of $675 were declared at the end of the year, and 500 additional shares of common stock (5010 per value per share) were issued at the end of the year for $3,300 in cash (for a total at the end of the year of 950 shares). These effects are included below Adjusted Trial Balance End of the Current Year Cash Accounts receivable Interest receivable Prepaid insurance Long-ters notes receivable Equipment Accumulated depreciation Accounts payable Dividends payable $1,575 2,350 130 1,750 3,550 16,790 2,700 675

Catena's Marketing Company has the following adjusted trial balance at the end of the current year Cash dividends of $675 were declared at the end of the year, and 500 additional shares of common stock (5010 per value per share) were issued at the end of the year for $3,300 in cash (for a total at the end of the year of 950 shares). These effects are included below Adjusted Trial Balance End of the Current Year Cash Accounts receivable Interest receivable Prepaid insurance Long-ters notes receivable Equipment Accumulated depreciation Accounts payable Dividends payable $1,575 2,350 130 1,750 3,550 16,790 2,700 675

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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Record end of year 

Catena's Marketing Company has the following adjusted trial balance at the end of the current year Cash dividends of $675 were declared at the end of the year, and 500 additional shares of common stock (5010 per value per share) were issued at the end of the year for $3,300 in cash (for a total at the end of the year of 950 shares). These effects are included below Catena's Marketing Company Adjusted Trial Balance End of the Current Year Cash Accounts receivable Interest receivable Prepaid insurance Long-ters notes receivable Equipment Accumulated depreciation Accounts payable Dividends payable Accrued expenses payable Income taxes payable Unearned rent revenue Common Stock (950 shares) Additional paid-in capital Retained earnings Sales revenue Rent revenue Interest revenue Wages expense Depreciation expense Utilities expense Insurance expense Rent expense Income tax expense Total View transaction list Debit $1,575 2,350 130 Note: Enter debits before credits 1,750 3,550 16,790 Transaction 1 21,000 2,100 Cash 440 885 Journal entry worksheet < Credit Prepare the closing entry at the end of the current year. Note: If no entry is required for a transaction/event, select "No journal entry requ $3,300 2,700 675 4,070 1,860 95 3,770 1,700 41,950 875 130 9,300 1,830 561,700 $61,700 Record the closing entry at the end of the current year. General Journal Debit Credit account field.
Transcribed Image Text:Catena's Marketing Company has the following adjusted trial balance at the end of the current year Cash dividends of $675 were declared at the end of the year, and 500 additional shares of common stock (5010 per value per share) were issued at the end of the year for $3,300 in cash (for a total at the end of the year of 950 shares). These effects are included below Catena's Marketing Company Adjusted Trial Balance End of the Current Year Cash Accounts receivable Interest receivable Prepaid insurance Long-ters notes receivable Equipment Accumulated depreciation Accounts payable Dividends payable Accrued expenses payable Income taxes payable Unearned rent revenue Common Stock (950 shares) Additional paid-in capital Retained earnings Sales revenue Rent revenue Interest revenue Wages expense Depreciation expense Utilities expense Insurance expense Rent expense Income tax expense Total View transaction list Debit $1,575 2,350 130 Note: Enter debits before credits 1,750 3,550 16,790 Transaction 1 21,000 2,100 Cash 440 885 Journal entry worksheet < Credit Prepare the closing entry at the end of the current year. Note: If no entry is required for a transaction/event, select "No journal entry requ $3,300 2,700 675 4,070 1,860 95 3,770 1,700 41,950 875 130 9,300 1,830 561,700 $61,700 Record the closing entry at the end of the current year. General Journal Debit Credit account field.
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