Ex5.19 From the following accounts (not in order), prepare a post-closing trial balance for Winter Co. on October 31, 201X. Note: These balances are before closing. Accounts Receivable $19,950 P. Winter, Capital $45,300 Legal Supplies 9,700 P. Winter, Withdrawals 3,000 Office Equipment 54,400 Legal Fees Earned 28,000 Repair Expense 2,700 Accounts Payable 48,000 Salaries Expense 1,550 Cash 30,000
Ex5.19 From the following accounts (not in order), prepare a post-closing trial balance for Winter Co. on October 31, 201X. Note: These balances are before closing. Accounts Receivable $19,950 P. Winter, Capital $45,300 Legal Supplies 9,700 P. Winter, Withdrawals 3,000 Office Equipment 54,400 Legal Fees Earned 28,000 Repair Expense 2,700 Accounts Payable 48,000 Salaries Expense 1,550 Cash 30,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Ex5.19
From the following accounts (not in order), prepare a post-closing
October 31, 201X. Note: These balances are before closing.
P. Winter, Capital $45,300
Legal Supplies 9,700
P. Winter, Withdrawals 3,000
Office Equipment 54,400
Legal Fees Earned 28,000
Repair Expense 2,700
Accounts Payable 48,000
Salaries Expense 1,550
Cash 30,000
Adjustment Data
a. Insurance expired, $100.
b. Dance supplies on hand, $1,100.
c.
d. Salaries earned by employees but not to be paid until October, $1,000.
Your task is to do the following:
1. Prepare a worksheet.
2. Journalize adjusting and closing entries.
Transcribed Image Text:DAISY'S DANCE STUDIO
TRIAL BALANCE
SEPTEMBER 30, 201X
Dr.
Cr.
Cash
Accounts Receivable
60 00000
11 0 0000
Prepaid Insurance
Dance Supplies
Dance Equipment
Accumunated Depreciation, Dance Equipment
Accounts Payable
D. Dalia, Capital
D. Dalia, Withdrawals
Dance Fees Earned
Salaries Expense
Telephone Expense
Advertising Expense
80000
140000
19 0 0000
10 20000
1800000
4550000
40000
2180000,
170000
70 000
5,0000
9550000
9550000
Adjustment Data
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education