PA17. LO 5.4 From the following Company T adjusted trial balance, prepare the following:A. Income StatementB. Retained Earnings StatementC. Balance Sheet (simple-unclassified)D. Closing journal entriesE. Post-Closing Trial BalanceAdjusted Trial BalanceDebitCreditCash$ 24,000Accounts Receivable14,900Prepaid Insurance5,300Land13,500Accounts PayableSalaries Payable$ 12,4001,500Common Stock34,000Retained Earnings10,200Dividends5,000Service Revenue56,300Insurance ExpenseSalaries ExpenseMiscellaneous Expense7,90039,0004,800$114,400$114,400

PA17. LO 5.4 From the following Company T adjusted trial balance, prepare the following: D. Closing journal entries E. Post-Closing Trial Balance A. Income Statement B. Retained Earnings Statement C. Balance Sheet (simple-unclassified) Adjusted Trial Balance Debit Credit $ 24,000 14,900 5,300 Cash Accounts Receivable Prepaid Insurance Land 13,500 Accounts Payable Salaries Payable $ 12,400 1,500 Common Stock 34,000 Retained Earnings 10,200 Dividends 5,000 Service Revenue Insurance Expense Salaries Expense Miscellaneous Expense 56,300 7,900 39,000 4,800 $114,400 $114,400

PA17. LO 5.4 From the following Company T adjusted trial balance, prepare the following: D. Closing journal entries E. Post-Closing Trial Balance A. Income Statement B. Retained Earnings Statement C. Balance Sheet (simple-unclassified) Adjusted Trial Balance Debit Credit $ 24,000 14,900 5,300 Cash Accounts Receivable Prepaid Insurance Land 13,500 Accounts Payable Salaries Payable $ 12,400 1,500 Common Stock 34,000 Retained Earnings 10,200 Dividends 5,000 Service Revenue Insurance Expense Salaries Expense Miscellaneous Expense 56,300 7,900 39,000 4,800 $114,400 $114,400

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 11EA: Prepare adjusting journal entries, as needed, considering the account balances excerpted from the...

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