Assuming the following Adjusted Trial Balance: Adjusted Trial Balance Debit Credit Cash $22,900 Prepaid Insurance 5,000 Fixed Assets 47,000 Notes Payable $40,000 Common Stock 28,000 Retained Earnings 48,350 Dividends 24,000 Sales Revenue 154,000 Automobile Expense 26,500 Insurance Expense 20,000 Salaries Expense 123,500 Supplies Expense 1,450 $270,350 $270,350 Create the Post-Closing Trial Balance that would result, after all closing journal entries were made and posted. If an amount box does not require an entry, leave it blank.

Assuming the following Adjusted Trial Balance: Adjusted Trial Balance Debit Credit Cash $22,900 Prepaid Insurance 5,000 Fixed Assets 47,000 Notes Payable $40,000 Common Stock 28,000 Retained Earnings 48,350 Dividends 24,000 Sales Revenue 154,000 Automobile Expense 26,500 Insurance Expense 20,000 Salaries Expense 123,500 Supplies Expense 1,450 $270,350 $270,350 Create the Post-Closing Trial Balance that would result, after all closing journal entries were made and posted. If an amount box does not require an entry, leave it blank.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter11: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 11.5.1MBA: Margin of safety Using the data from P11-2, determine the following for 20Y5. Margin of safety for...

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Adjusted Trial Balance
	Debit	Credit
Cash	$22,900
Prepaid Insurance	5,000
Fixed Assets	47,000
Notes Payable		$40,000
Common Stock		28,000
Retained Earnings		48,350
Dividends	24,000
Sales Revenue		154,000
Automobile Expense	26,500
Insurance Expense	20,000
Salaries Expense	123,500
Supplies Expense	1,450
	$270,350	$270,350