Jassim Service Company's adjusted trial balahce at the end of 31 December, its accounting perlod is shown below. Jassim Service Company Adjusted Trial Balance December 31 Debit 17,500 16,000 9,000 28,000 Credit Cash Accounts receivable Office supplies Office equipment Accumulated depreciation- Office equipment Long-term notes payable Jassim, Capital Jassim, Withdrawals Fees earned Salaries expense Rent expense Depreciation expense-Office equipment Office supplies expense Totals 3,500 23,500 26,100 1,500 71,960 31,400 17,210 1,750 2,700 $125,060 $125,060 Required: Given the above information, prepare the following: a. The necessary closing entries, Journal entry example: Dr. Office Maintenance expense BD 500 Cr. Cash BD 500 h What is the balance of Jassim. Capital' in the post-closing trial balance? [you MUST show your calcula
Jassim Service Company's adjusted trial balahce at the end of 31 December, its accounting perlod is shown below. Jassim Service Company Adjusted Trial Balance December 31 Debit 17,500 16,000 9,000 28,000 Credit Cash Accounts receivable Office supplies Office equipment Accumulated depreciation- Office equipment Long-term notes payable Jassim, Capital Jassim, Withdrawals Fees earned Salaries expense Rent expense Depreciation expense-Office equipment Office supplies expense Totals 3,500 23,500 26,100 1,500 71,960 31,400 17,210 1,750 2,700 $125,060 $125,060 Required: Given the above information, prepare the following: a. The necessary closing entries, Journal entry example: Dr. Office Maintenance expense BD 500 Cr. Cash BD 500 h What is the balance of Jassim. Capital' in the post-closing trial balance? [you MUST show your calcula
Chapter1: Financial Statements And Business Decisions
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