Post to the Retained Earnings and Income Summary accounts. (Post entries in the order of journal entries presented in the previous part. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Date Explanation July 31 July 31 July 31 Date Explanation July 31 July 31 July 31 > Retained Earnings Ref J15 J15 J15 Income Summary Ref J15 J15 Debit J15 Debit Credit Credit Balance Balance No. 3 No. 3
Post to the Retained Earnings and Income Summary accounts. (Post entries in the order of journal entries presented in the previous part. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Date Explanation July 31 July 31 July 31 Date Explanation July 31 July 31 July 31 > Retained Earnings Ref J15 J15 J15 Income Summary Ref J15 J15 Debit J15 Debit Credit Credit Balance Balance No. 3 No. 3
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please do not five image in solutions thnks
Transcribed Image Text:Post to the Retained Earnings and Income Summary accounts. (Post entries in the order of journal entries presented in the previous
part. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Date Explanation
July
31
July
31
July
31
Date Explanation
July
31
July
31
July
31
>
>
>
Retained Earnings
Ref
J15
J15
J15
Income Summary
Ref
J15
J15
Debit
J15
Debit
Credit
Credit
Balance
Balance
No. 3
No. 3
Transcribed Image Text:Novak Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown
below.
No.
101
112
157
201
208
Equipment
158 Accumulated Depreciation-Equip.
Accounts Payable
Unearned Rent Revenue
311
320
332
400
429
Cash
711
732
Account Titles
Novak Company
Adjusted Trial Balance
July 31, 2019
Accounts Receivable
Common Stock
Retained Earnings
Dividends
Service Revenue
Rent Revenue
Depreciation Expense
726 Salaries and Wages Expense
Utilities Expense
Debit
$8,900
9,100
16,000
16,200
7,400
56,500
14,500
Credit
$7.300
4,700
1,600
20,000
25.300
63,300
6.400
$128,600 $128,600
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