For the Month Ended April 30, 2022 Adjusted Trial Balance Income Statement Balance Sheet Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Cash 10,000 Accounts Receivable 7,840 Prepaid Rent 2,280 Equipment 23,050 Accumulated Depreciation-Equip. Notes Payable Accounts Payable Owner's Capital 4,900 5,700 4,920 27,960 Owner's Drawings 3,650 Service Revenue 15,590 Salaries and Wages Expense 10,840 Ront Fyponco
For the Month Ended April 30, 2022 Adjusted Trial Balance Income Statement Balance Sheet Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Cash 10,000 Accounts Receivable 7,840 Prepaid Rent 2,280 Equipment 23,050 Accumulated Depreciation-Equip. Notes Payable Accounts Payable Owner's Capital 4,900 5,700 4,920 27,960 Owner's Drawings 3,650 Service Revenue 15,590 Salaries and Wages Expense 10,840 Ront Fyponco
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Topic Video
Question
Attached is the Worksheet data for Auburn Company
Instructions:
(a) Journalize the closing entries at April 30.
(b)
(c) Prepare a post-closing
(c) Prepare

Transcribed Image Text:The adjusted trial balance columns of the worksheet for Auburn Company are as follows.
Auburn Company
Worksheet (partial)
For the Month Ended April 30, 2022
Adjusted Trial Balance Income Statement Balance Sheet
Account Titles
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Cash
10,000
Accounts Receivable
7,840
Prepaid Rent
Equipment
Accumulated Depreciation-Equip.
Notes Payable
Accounts Payable
Owner's Capital
2,280
23,050
4,900
5,700
4,920
27,960
Owner's Drawings
3,650
Service Revenue
15,590
Salaries and Wages Expense
10,840
Rent Expense
760
Depreciation Expense
Interest Expense
650
57
Interest Payable
57
Totals
59,127
59,127
Expert Solution
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Step 1 Introduction
The closing entries are prepared to close the temporary accounts of the business.
The post closing trial balance includes the permanent accounts of the business, which are carried forward.
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