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Accounting
Talances 420 00 126 00 33.033 00 9.766 00 700 00 585 00 420 00 50 400 00 90670 00 36.120 00 210 00 63 00 2.100 00 21.00 42.00 50 00 21.000 00 588 00 166 00 Loans Payable Payeble TC Accounts Payable Accounts Receivable License Payable Advertising Expense Bad Debts Expense Dulding Capita Cash Depreciation Expense-Bidg Depreciation Expense-Equit Drawing Insurance Expense Interest Expense Interest Payable Land Management Fees income Management Fees Receivabie

Talances 420 00 126 00 33.033 00 9.766 00 700 00 585 00 420 00 50 400 00 90670 00 36.120 00 210 00 63 00 2.100 00 21.00 42.00 50 00 21.000 00 588 00 166 00 Loans Payable Payeble TC Accounts Payable Accounts Receivable License Payable Advertising Expense Bad Debts Expense Dulding Capita Cash Depreciation Expense-Bidg Depreciation Expense-Equit Drawing Insurance Expense Interest Expense Interest Payable Land Management Fees income Management Fees Receivabie

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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Follow the format on the second image. Do it nicely.
Closing Baiance Dr Sheet Cr Fost Closing Statement Cr. Entries Tra Baance Income Cr.
Transcribed Image Text:Closing Baiance Dr Sheet Cr Fost Closing Statement Cr. Entries Tra Baance Income Cr.
Loans Payable Tax Payable Accounts Payable Accounts Receivable License Payable Advertising Expense Bad Debts Expense Building Capital Cash Depreciation Expense-Bidg Depreciation Expense-Equipt Drawing Insurance Expense Interest Expense Interest Payable Land Management Fees Income Management F ees Receivable Notes Payable Office Equiptments Office Salaries Expenxe Office Supplies Office Supplies Expense Prepaid Rent Sales Commissions Income Sales Salaries Expense Sales Salaries Payable Telephone Expense Commissions Paable Prepaid Insurance TOTALS Nat Income (Net Loss) TOTALS Balances 420 00 126.00 33,033 00 9.786 00 700 00 4,585 00 420 00 50 400.00 90,670 .00 36.120 00 210 00 63 00 2,100 00 21.00 42.00 50.00 21,000 00 588 00 168.00 4.200 00 7.560 00 3,060 00 840.00 150 00 280.00 7678.00 1,967 00 253 00 273.00 2,100.00 753.00
Transcribed Image Text:Loans Payable Tax Payable Accounts Payable Accounts Receivable License Payable Advertising Expense Bad Debts Expense Building Capital Cash Depreciation Expense-Bidg Depreciation Expense-Equipt Drawing Insurance Expense Interest Expense Interest Payable Land Management Fees Income Management F ees Receivable Notes Payable Office Equiptments Office Salaries Expenxe Office Supplies Office Supplies Expense Prepaid Rent Sales Commissions Income Sales Salaries Expense Sales Salaries Payable Telephone Expense Commissions Paable Prepaid Insurance TOTALS Nat Income (Net Loss) TOTALS Balances 420 00 126.00 33,033 00 9.786 00 700 00 4,585 00 420 00 50 400.00 90,670 .00 36.120 00 210 00 63 00 2,100 00 21.00 42.00 50.00 21,000 00 588 00 168.00 4.200 00 7.560 00 3,060 00 840.00 150 00 280.00 7678.00 1,967 00 253 00 273.00 2,100.00 753.00
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