Presented below is the Adjusted Trial Balance for Kelly Clarkson Music Services. Prepare the necessary closing journal entries at 12/31/25. Include both the dates and the explanations. 4 Kelly Clarkson Music Services Adjusted Trial Balance 12/31/2025 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Uneared Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Supplies Expense Depreciation Expense Rent Expense Debit $ 6,400 $ 5.600 $ 800 $12.000 $ 7,450 $ 1.900 $ 650 Credit $ 1,000 $ 2.200 $ 700 $ 8,000 $ 7,400 $18,700 $ 1.200 $ 2.000 $38.000 $38.000

Presented below is the Adjusted Trial Balance for Kelly Clarkson Music Services. Prepare the necessary closing journal entries at 12/31/25. Include both the dates and the explanations. 4 Kelly Clarkson Music Services Adjusted Trial Balance 12/31/2025 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Uneared Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Supplies Expense Depreciation Expense Rent Expense Debit $ 6,400 $ 5.600 $ 800 $12.000 $ 7,450 $ 1.900 $ 650 Credit $ 1,000 $ 2.200 $ 700 $ 8,000 $ 7,400 $18,700 $ 1.200 $ 2.000 $38.000 $38.000

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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The trial balance columns of the worksheet for Cullumber Company at June 30, 2027, are as follows. Cash Cullumber Company Worksheet For the Month Ended June 30, 2027 Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Common Stock Service Revenue Account Titles Salaries and Wages Expense Miscellaneous Expense 1. Other data: 2, 3. MPANY Complete the worksheet. Cr. 30, 2027 Trial Balance Dr. 2,080 2,520 Accrued salaries are $290. 2,000 620 260 7,480 Dr. Cr. 1,100 A physical count reveals $500 of supplies on hand. $200 of the unearned revenue is still unearned at month-end. 420 2,960 3,000 7,480 M Income Statement Cr. II Dr. Balance Sheet IN Cr.
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At December 31, 2024, Crane Industries reports the following selected accounts from the unadjusted trial balance for its first year of operations: Accounts payable Accounts receivable Account Cash Cost of goods sold Interest receivable Interest revenue Merchandise inventory Notes receivable, due April 10, 2025 Prepaid insurance Sales Sales returns and allowances Short-term investments Unearned revenue (a) Date Account Titles Dec. 31 Debit $686,000 39,200 1,715,000 1,100 318,500 44,100 7,840 98,000 49,000 Credit $343,000 2,200 3,596,600 Prepare the journal entry to record the bad debt expense on December 31, 2024, assuming the credit manager estimates that 4% of the accounts receivable will become uncollectible. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) 24,500 Debit Credit
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