521F1QA@2PA9. LO 5.2 Assuming the following Adjusted Trial Balance, create the Post-Closing Trial Balance that wouldresult, after all closing journal entries were made and posted:Adjusted Trial BalanceDebitCredit$ 22,900CashPrepaid InsuranceFixed Assets4,00044.000Notes Payable$ 40,000Common Stock25,00048,350Retained EarningsDividends22,000150,000Sales RevenueAutomobile Expense26,500Insurance Expense20,000122,500Salaries ExpenseSupplies Expense1,450$263.350$263,350F2WS# 380F3ED$4MAY23aF4R%5F어요F5FeeTPage 4 of 4tvMacBook AirF6A6GY73 words&7F7HIN

Closing Entries - Closing entries are required to close the temporary accounts after making…

PA9.5.2 Assuming the following Adjusted Trial Balance, create the Post-Closing Trial Balance that would result, after all closing journal entries were made and posted: Adjusted Trial Balance Debit Credit Cash $ 22,900 Prepaid Insurance 4,000 Fixed Assets 44,000 Notes Payable $ 40,000 Common Stock 25,000 48,350 Retained Earnings Dividends 22,000 Sales Revenue 150,000 Automobile Expense 26,500 Insurance Expense 20,000 Salaries Expense 122,500 Supplies Expense 1,450 $263,350 $263,350

PA9.5.2 Assuming the following Adjusted Trial Balance, create the Post-Closing Trial Balance that would result, after all closing journal entries were made and posted: Adjusted Trial Balance Debit Credit Cash $ 22,900 Prepaid Insurance 4,000 Fixed Assets 44,000 Notes Payable $ 40,000 Common Stock 25,000 48,350 Retained Earnings Dividends 22,000 Sales Revenue 150,000 Automobile Expense 26,500 Insurance Expense 20,000 Salaries Expense 122,500 Supplies Expense 1,450 $263,350 $263,350

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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