PA16. 5.4 From the following Company R adjusted trial balance, prepare the following: Page 355 (search bar 365) A. Income Statement B. Retained Earnings Statement C. Balance Sheet (simple-unclassified) D. Closing journal entries E. Post-Closing Trial Balance Adjusted Trial Balance Details Debit ($) Credit ($) Cash Accounts receivable Prepaid insurance Land Accounts payable Salaries payable Common stock Retained Earnings 44000 13800 6400 16000 14900 4500 31000 10200 Dividends Service revenue Insurance expense Salaries expense Miscellaneous expense 12000 86000 7600 32000 14800 146,600 146.600

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Question
12:04 PM
AY2021/22 | SEM 2/S3 |ACC X
b Similar Questions | bartleby X
+
->
i bartleby.com/similar-questions
PA16. 5.4 From the following Company R adjusted trial balance, prepare the following: Page
355 (search bar 365)
A. Income Statement
B. Retained Earnings Statement
C. Balance Sheet (simple unclassified)
D. Closing journal entries
E. Post-Closing Trial Balance
SEARCH
ASK AN
LIVE
LIBRARY
EXPERT
CHAT
EE Submit your question to our 24/7 subject matter experts with Masters and PhDs
Adjusted Trial Balance
and get a solution in as fast as 30 minutes*
Details
Debit ($)
Credit ($)
Cash
44000
Accounts receivable
13800
Prepaid insurance
6400
O Drag and drop images or start typing. Ask away!
Land
16000
Accounts payable
Salaries payable
14900
4500
Common stock
31000
Retained Earnings
10200
Dividends
12000
Service revenue
Insurance expense
86000
7600
Salaries expense
Miscellaneous expense
32000
В
I
x² X,
14800
146,600
146,600
1 Add Image
3/3
CONTINUE
Like you, we deeply value honesty and integrity. Learn about our honor code.
*Posnonse times may vary hy subiect and question complevity Median resnonse time is 4 minutes for
...
Transcribed Image Text:12:04 PM AY2021/22 | SEM 2/S3 |ACC X b Similar Questions | bartleby X + -> i bartleby.com/similar-questions PA16. 5.4 From the following Company R adjusted trial balance, prepare the following: Page 355 (search bar 365) A. Income Statement B. Retained Earnings Statement C. Balance Sheet (simple unclassified) D. Closing journal entries E. Post-Closing Trial Balance SEARCH ASK AN LIVE LIBRARY EXPERT CHAT EE Submit your question to our 24/7 subject matter experts with Masters and PhDs Adjusted Trial Balance and get a solution in as fast as 30 minutes* Details Debit ($) Credit ($) Cash 44000 Accounts receivable 13800 Prepaid insurance 6400 O Drag and drop images or start typing. Ask away! Land 16000 Accounts payable Salaries payable 14900 4500 Common stock 31000 Retained Earnings 10200 Dividends 12000 Service revenue Insurance expense 86000 7600 Salaries expense Miscellaneous expense 32000 В I x² X, 14800 146,600 146,600 1 Add Image 3/3 CONTINUE Like you, we deeply value honesty and integrity. Learn about our honor code. *Posnonse times may vary hy subiect and question complevity Median resnonse time is 4 minutes for ...
12:04 PM
AY2021/22 | SEM 2/S3 |ACC X
b Similar Questions | bartleby X
+
EA5. 5.1 The following accounts and normal balances existed at year-end. Make the four journal
entries required to close the books. Page 341 (search bar 351)
->
i bartleby.com/similar-questions
Retained earnings
Dividends
$22.000
6,000
90.000
Fees earned revenue
Selling expenses
Administrative expenses
Miscellaneous expenses
45,000
16,000
2,300
SEARCH
ASK AN
LIVE
LIBRARY
EXPERT
CHAT
LE Submit your question to our 24/7 subject matter experts with Masters and PhDs
2/3
and get a solution in as fast as 30 minutes*
O Drag and drop images or start typing. Ask away!
I
x?
X2
EA6. 5.1 Use the following excerpts from the year-end Adjusted Trial Balance to prepare the
four journal entries required to close the books: Page 341 (search bar 351)
В
1 Add Image
Trial Balance
Account
Debit ($)
Credit (S)
Dividends
24,000
CONTINUE
Sales revenue
194.000
Automobile expense
15,500
Insurance expense
30,000
Salaries expense
Supplies expense
96.000
Like you, we deeply value honesty and integrity. Learn about our honor code.
*Posnonse times may vary hy subiect and question complevity Median resnonse time is 4 minutes for
6,500
...
Transcribed Image Text:12:04 PM AY2021/22 | SEM 2/S3 |ACC X b Similar Questions | bartleby X + EA5. 5.1 The following accounts and normal balances existed at year-end. Make the four journal entries required to close the books. Page 341 (search bar 351) -> i bartleby.com/similar-questions Retained earnings Dividends $22.000 6,000 90.000 Fees earned revenue Selling expenses Administrative expenses Miscellaneous expenses 45,000 16,000 2,300 SEARCH ASK AN LIVE LIBRARY EXPERT CHAT LE Submit your question to our 24/7 subject matter experts with Masters and PhDs 2/3 and get a solution in as fast as 30 minutes* O Drag and drop images or start typing. Ask away! I x? X2 EA6. 5.1 Use the following excerpts from the year-end Adjusted Trial Balance to prepare the four journal entries required to close the books: Page 341 (search bar 351) В 1 Add Image Trial Balance Account Debit ($) Credit (S) Dividends 24,000 CONTINUE Sales revenue 194.000 Automobile expense 15,500 Insurance expense 30,000 Salaries expense Supplies expense 96.000 Like you, we deeply value honesty and integrity. Learn about our honor code. *Posnonse times may vary hy subiect and question complevity Median resnonse time is 4 minutes for 6,500 ...
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Receivables Management
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.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education