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Ralph's Services Adjusted Trial Bal. at Dec. 31/07 Debit Credit Cash $4,300 Accts. Receivable 1,400 Unearned revenue $700 Ralph, Capital 4,000 Ralph, Withdrawals 1,000 Service revenue 12,000 Advertising expense 7,000 Utilities expense 3,000 Totals $16,700 $ 16,700 In struction s: 1) Prepare the required closing entries. 2) Post the accounts to the general ledger. 3) Prepare the post-closing trial balance.

Ralph's Services Adjusted Trial Bal. at Dec. 31/07 Debit Credit Cash $4,300 Accts. Receivable 1,400 Unearned revenue $700 Ralph, Capital 4,000 Ralph, Withdrawals 1,000 Service revenue 12,000 Advertising expense 7,000 Utilities expense 3,000 Totals $16,700 $ 16,700 In struction s: 1) Prepare the required closing entries. 2) Post the accounts to the general ledger. 3) Prepare the post-closing trial balance.

FINANCIAL ACCOUNTING
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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Ralph's Services Adjusted Trial Bal. at Dec. 31/07 Debit Credit Cash $4,300 Accts. Receivable 1,400 Unearned revenue S700 Ralph, Capital 4,000 Ralph, Withdrawals 1,000 Service revenue 12,000 Advertising expense 7,000 Utilities expense 3,000 Totals $16,700 S 16,700 Instructions: 1) Prepare the required closing entries. 2) Post the accounts to the general ledger. 3) Prepare the post-closing trial balance.
Transcribed Image Text:Ralph's Services Adjusted Trial Bal. at Dec. 31/07 Debit Credit Cash $4,300 Accts. Receivable 1,400 Unearned revenue S700 Ralph, Capital 4,000 Ralph, Withdrawals 1,000 Service revenue 12,000 Advertising expense 7,000 Utilities expense 3,000 Totals $16,700 S 16,700 Instructions: 1) Prepare the required closing entries. 2) Post the accounts to the general ledger. 3) Prepare the post-closing trial balance.
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