Prepare the four closing entries for the following adjusted trial balance, using the journal on the next page. Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking revenue Depreciation expense-Trucks Salaries expense Office supplies expense Debit $ 8,000 17,500 3,000 172,000 85,000 20,000 23,500 61,000 8,000 Credit $36,000 12,000 4,000 58,000 30,000 140,000 130,000

Prepare the four closing entries for the following adjusted trial balance, using the journal on the next page. Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking revenue Depreciation expense-Trucks Salaries expense Office supplies expense Debit $ 8,000 17,500 3,000 172,000 85,000 20,000 23,500 61,000 8,000 Credit $36,000 12,000 4,000 58,000 30,000 140,000 130,000

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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