Prepare the December 31, 2023 year-end closing entries using the following adjusted trial balance of Billi So Company. Credit Cash Debit 32,000 7,500 6,200 Prepaid insurance 35,000 Office supplies Store equipment 17,000 Accumulated depreciation, store equip 8,500 6,000 26,000 Accounts payable Unearned consulting revenue 13,500 62,000 Long-term notes payable Billi Sol, capital Billi Sol, withdrawals Consulting Revenue 0001 9,000 Salary expense Insurance expense 25,000 12,300 2,000 Depreciation expense, store equipment Office supplies expense 4,000 Total 133,000 133,000
Prepare the December 31, 2023 year-end closing entries using the following adjusted trial balance of Billi So Company. Credit Cash Debit 32,000 7,500 6,200 Prepaid insurance 35,000 Office supplies Store equipment 17,000 Accumulated depreciation, store equip 8,500 6,000 26,000 Accounts payable Unearned consulting revenue 13,500 62,000 Long-term notes payable Billi Sol, capital Billi Sol, withdrawals Consulting Revenue 0001 9,000 Salary expense Insurance expense 25,000 12,300 2,000 Depreciation expense, store equipment Office supplies expense 4,000 Total 133,000 133,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Prepare the December 31, 2023 year-end closing entries using the following adjusted
Company.
Credit
Cash
Debit
32,000 7,500
6,200
Prepaid insurance
35,000
Office supplies
Store equipment
17,000
8,500 6,000
26,000
Accounts payable
Unearned consulting revenue
13,500
62,000
Long-term notes payable
Billi Sol, capital
Billi Sol, withdrawals
Consulting Revenue 0001
9,000
Salary expense
Insurance expense
25,000
12,300 2,000
Depreciation expense, store equipment Office supplies expense
4,000
Total
133,000 133,000
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