Nano Technology Solution Co has prepared the foliowing unadjusted trial balance at Jan 31, 2019Nano Technology Solution Co.Adjusted Trial BalanceJanuary. 31, 2019Debit1310080007500190 000CreditCashSuppliesPrepaid insuranceTrucksAccumulated Depreciation-TruckAccount payableUnearned FeesNote payable (due 2025)Smith s CapitalSmith's DrawingFees earnedSalary expenseRent ExpenseElectricity Expenses27 100450011,00020,0001064003000131,0006100076009800300.000300,000RequirementPrepare income statement and stamen of Owner's EquityJournalize nocessary closing entryPrepare Post-closing Trail balance

Income statement: It is one of the financial statements prepared by an organization. This statement…

Nano Technology Solution Co has prepared the following unadjusted tral balance at Jan 31, 2019 Nano Technology Solution Co. Adjusted Trial Balance January 31, 2019 Debit 13100 8000 7500 190 000 Credit Cash Supplies Prepaid insurance Trucks Accumulated Depreciation-Truck Account payable Uneamed Fees Note payable (due 2025) Smith's Capital Smth's Drawing Fees earned Salary expense Rent Expense Electricity Expenses 27 100 4500 11,000 20.000 106400 3000 131,000 61000 7600 9800 300.000 300.000 Requirement 1 Prepare income statement and stamen of Owner's Equity •2 Journalize necessary closing entry 3. Prepare Post closing Trail balance

Nano Technology Solution Co has prepared the following unadjusted tral balance at Jan 31, 2019 Nano Technology Solution Co. Adjusted Trial Balance January 31, 2019 Debit 13100 8000 7500 190 000 Credit Cash Supplies Prepaid insurance Trucks Accumulated Depreciation-Truck Account payable Uneamed Fees Note payable (due 2025) Smith's Capital Smth's Drawing Fees earned Salary expense Rent Expense Electricity Expenses 27 100 4500 11,000 20.000 106400 3000 131,000 61000 7600 9800 300.000 300.000 Requirement 1 Prepare income statement and stamen of Owner's Equity •2 Journalize necessary closing entry 3. Prepare Post closing Trail balance

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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