Preparing Closing Entries Listed below are the accounts taken from the Dec. 31, 2019 adjusted trial balance of Teresita Nacion Publishers. 260,000 710,000 2,270,000 8,130,000 320,000 250,000 Unearned Printing Revenues 160,000 Accounts Receivable Supplies Expense Salaries Expense Interest Payable Cash Repairs Accounts Payable Telephone Expense 40,000 160,000 10,000 190,000 20,000 210,000 300,000 340,000 Printing revenues Prepaid Insurance Depreciation Expense Supplies Interest Expense Salaries Payable Printing Equipment Prepaid Advertising Nacion, Capital Notes Payable Miscellaneous Expense Utilities Expense 310,000 5,520,000 2,500,000 70,000 1,500,000 90,000 Nacion, Withdrawals 80,000
Preparing Closing Entries Listed below are the accounts taken from the Dec. 31, 2019 adjusted trial balance of Teresita Nacion Publishers. 260,000 710,000 2,270,000 8,130,000 320,000 250,000 Unearned Printing Revenues 160,000 Accounts Receivable Supplies Expense Salaries Expense Interest Payable Cash Repairs Accounts Payable Telephone Expense 40,000 160,000 10,000 190,000 20,000 210,000 300,000 340,000 Printing revenues Prepaid Insurance Depreciation Expense Supplies Interest Expense Salaries Payable Printing Equipment Prepaid Advertising Nacion, Capital Notes Payable Miscellaneous Expense Utilities Expense 310,000 5,520,000 2,500,000 70,000 1,500,000 90,000 Nacion, Withdrawals 80,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Post closing trial balance
Transcribed Image Text:Practice
Preparing Closing Entries
Listed below are the accounts taken from the Dec. 31, 2019 adjusted trial balance of
Teresita Nacion Publishers.
Accounts Receivable
Supplies Expense
260,000
Interest Payable
40,000
710,000
Cash
160,000
Salaries Expense
2,270,000
Repairs
10,000
Accounts Payable
Telephone Expense
250,000 Unearned Printing Revenues
Printing revenues
8,130,000
190,000
Prepaid Insurance
320,000
20,000
Depreciation Expense
210,000
Supplies
160,000
Interest Expense
300,000
Salaries Payable
Nacion, Capital
Notes Payable
Miscellaneous Expense
Utilities Expense
310,000
340,000
Printing Equipment
5,520,000
2,500,000
Prepaid Advertising
70,000
90,000
Nacion, Withdrawals
1,500,000
80,000
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