From the partial worksheets of Mr. Quickie Repair Shop for the quarter ended June 30, 2020, prepare the closing entries and the post-closing trial balance. Mr. QUICKIE REPAIR SHOP Worksheet For the quarter ended June 30, 2020 Balance Sheet Adjusted Trial Balance Debit Income Statement Credit Credit Debit Debit Credit 25,000 62,500 Cash on Hand Accounts Receivable Estimated Uncollectible Account Notes Receivable Shop Equipment Accumulated Depreciation - Shop Equipment Furniture and Fixture 25,000 62,500 3,125 3,125 17,500 75,000 17,500 75,000 12,500 12,500 20,000 20,000 14,500 14,500 Accumulated Depreciation - Furniture and Fixture Accounts Payable Notes Payable Rosas, Capital Rosas, Drawings Repair Income Salaries Expense Rent Expense Supplies Expense Taxes and Licenses 27,500 30,000 111,875 27,500 30,000 111,875 2,500 2,500 75,000 75,000 27,500 20,000 7,500 5,250 27,500 20,000 7,500 5,250

From the partial worksheets of Mr. Quickie Repair Shop for the quarter ended June 30, 2020, prepare the closing entries and the post-closing trial balance. Mr. QUICKIE REPAIR SHOP Worksheet For the quarter ended June 30, 2020 Balance Sheet Adjusted Trial Balance Debit Income Statement Credit Credit Debit Debit Credit 25,000 62,500 Cash on Hand Accounts Receivable Estimated Uncollectible Account Notes Receivable Shop Equipment Accumulated Depreciation - Shop Equipment Furniture and Fixture 25,000 62,500 3,125 3,125 17,500 75,000 17,500 75,000 12,500 12,500 20,000 20,000 14,500 14,500 Accumulated Depreciation - Furniture and Fixture Accounts Payable Notes Payable Rosas, Capital Rosas, Drawings Repair Income Salaries Expense Rent Expense Supplies Expense Taxes and Licenses 27,500 30,000 111,875 27,500 30,000 111,875 2,500 2,500 75,000 75,000 27,500 20,000 7,500 5,250 27,500 20,000 7,500 5,250

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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