Parrish 5-10 Pg 143 Trial Balance Cash $1360 Accounts Receivable $12440 Supplies $516 Prepaid Insurance $742 Trucks $30600 Accumulated Depreciation: Trucks $5440 Accounts Payable $1100 Income Taxes Payable $1300 Common Stock $10000 RE $21023 Dividends $2000 Service Revenue $19400 Wages Expense $7400 Insurance Expense $915 Utility Expense $550 Depreciation Expense: Trucks $440 (What is the difference between this and accummulated Depreciation for the trucks) Income Taxes Expense $1300 DR Total $58263 CR Total $58263 Step 1 Record all necessary closing entries Step 2 Using the information given earlier, prepare a post-closing trial balance Step 3 How much is the Net Income or Loss Step 4 What is the ending balance in the Retained Earnings account (show computation please)
Parrish 5-10 Pg 143
Cash $1360
Supplies $516
Prepaid Insurance $742
Trucks $30600
Accounts Payable $1100
Income Taxes Payable $1300
Common Stock $10000
RE $21023
Dividends $2000
Service Revenue $19400
Wages Expense $7400
Insurance Expense $915
Utility Expense $550
Depreciation Expense: Trucks $440 (What is the difference between this and accummulated Depreciation for the trucks)
Income Taxes Expense $1300
DR Total $58263 CR Total $58263
Step 1
Record all necessary closing entries
Step 2 Using the information given earlier, prepare a post-closing trial balance
Step 3 How much is the Net Income or Loss
Step 4 What is the ending balance in the
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