Edwards Corporation operates hair salons under various brand names. The following is a simplified list of accounts and amounts (in millions) reported in the company's accounts for the year ended June 30, 2019. Accounts Payable Accounts Receivable Accumulated Amortization Accumulated Depreciation Amortization Expense Cash Common Stock Depreciation Expense Equipment Income Tax Expense Interest Expense Notes Payable (long-term) Office Expense Prepaid Rent Rent Expense Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Service Revenue Software Supplies Supplies Expense $ 120 66 56 346 3 106 166 71 494 2 1 266 224 69 308 316 489 117 1,106 381 113 166

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Edwards Corporation operates hair salons under various brand names. The following is a simplified list of accounts
and amounts (in millions) reported in the company's accounts for the year ended June 30, 2019.
Accounts Payable
Accounts Receivable
Accumulated Amortization.
Accumulated Depreciation
Amortization Expense
Cash
Common Stock
Depreciation Expense
Equipment
Income Tax Expense
Interest Expense
Notes Payable (long-term).
Office Expense
Prepaid Rent
Rent Expense
Retained Earnings
Salaries and Wages Expense
Salaries and Wages Payable.
Service Revenue
Software
Supplies
Supplies Expense
Account Titles
Cash
Accounts Receivable
Supplies
Prepaid Rent
EDWARDS CORPORATION
Post-Closing Trial Balance
(in millions)
Equipment
Accumulated Depreciation
Software
Accumulated Amortization
Accounts Payable
Salaries and Wages Payable
Notes Payable (long-term)
Common Stock
Retained Earnings
Service Revenue
Salaries and Wages Expense
Rent Expense
Office Expense
Supplies Expense
Depreciation Expense
Interest Expense
3. Prepare a post-closing trial balance at June 30, 2019. (Enter your answers in millions (i.e., 10,000,000 should be enterea as 10).
Amortization Expense
Income Tax Expense
Totals
$ 120
66
56
346
3
106
166
Debit
71
494
2
1
266
224
69
308
316
489
117
1,106
381
113
166
Credit
Transcribed Image Text:Edwards Corporation operates hair salons under various brand names. The following is a simplified list of accounts and amounts (in millions) reported in the company's accounts for the year ended June 30, 2019. Accounts Payable Accounts Receivable Accumulated Amortization. Accumulated Depreciation Amortization Expense Cash Common Stock Depreciation Expense Equipment Income Tax Expense Interest Expense Notes Payable (long-term). Office Expense Prepaid Rent Rent Expense Retained Earnings Salaries and Wages Expense Salaries and Wages Payable. Service Revenue Software Supplies Supplies Expense Account Titles Cash Accounts Receivable Supplies Prepaid Rent EDWARDS CORPORATION Post-Closing Trial Balance (in millions) Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Salaries and Wages Payable Notes Payable (long-term) Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense Office Expense Supplies Expense Depreciation Expense Interest Expense 3. Prepare a post-closing trial balance at June 30, 2019. (Enter your answers in millions (i.e., 10,000,000 should be enterea as 10). Amortization Expense Income Tax Expense Totals $ 120 66 56 346 3 106 166 Debit 71 494 2 1 266 224 69 308 316 489 117 1,106 381 113 166 Credit
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