prepare the closing journal entries based on the adjusted trial balance Section B- Prepare closing journal entries for Company JK.DateAccountDebitCredit PART 4 - Use the following adjusted trial balance to complete section A and B below.COMPANY JKADJUSTED TRIAL BALANCE12/31/2020Account title:DebitCreditCash| 30,000Accounts receivable| 20,000Office supplies9,000BuildingsAccumulated depreciation -Buildings85,00020,000Accounts payable10,000Deferred revenue5,500Interest payable (due in 1 month)100Notes payable (due in 2 years)10,000Common stock15,000Retained earnings40,000Dividends2,000Service revenue83,600Wages expense27,000Interest expense1,200Depreciation expense - Buildings10,000ΤΟΤAL184,200 184,200

PART 4 - Use the following adjusted trial balance to complete section A and B below. СОMPANY JK ADJUSTED TRIAL BALANCE 12/31/2020 Account title: Debit Credit Cash 30,000 Accounts receivable 20,000 Office supplies 9,000 85,000 Buildings Accumulated depreciation - Buildings 20,000 Accounts payable 10,000 Deferred revenue 5,500 Interest payable (due in 1 month) 100 Notes payable (due in 2 years) 10,000 Common stock 15,000 Retained earnings 40,000 Dividends 2,000 Service revenue 83,600 Wages expense 27,000 Interest expense 1,200 Depreciation expense - Buildings 10,000 ТОTAL 184,200 184,200

PART 4 - Use the following adjusted trial balance to complete section A and B below. СОMPANY JK ADJUSTED TRIAL BALANCE 12/31/2020 Account title: Debit Credit Cash 30,000 Accounts receivable 20,000 Office supplies 9,000 85,000 Buildings Accumulated depreciation - Buildings 20,000 Accounts payable 10,000 Deferred revenue 5,500 Interest payable (due in 1 month) 100 Notes payable (due in 2 years) 10,000 Common stock 15,000 Retained earnings 40,000 Dividends 2,000 Service revenue 83,600 Wages expense 27,000 Interest expense 1,200 Depreciation expense - Buildings 10,000 ТОTAL 184,200 184,200

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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