Not sure on how to do this need help 1:00 1AC107 Unit 4 Closing Template.xlsxClosing ProblemThe ledger accounts of E-Resources appear as follows on March 31, 201X:All accounts have normal balances. Journalize and post the closing entries. Theadjusted trial balance balances have been entered into the General Ledgers accountsfor you.1.Journal the closing entries2. Post the closing entries to the GL accounts$ Include revenue, expenses and draw3. Prepare a post closing trial balanceTRIAL BALANCEAdjusted Trail BalanceDRCRCash80,000accounts rec58,820SuppliesPpd InsuranceEquipmentAccum Drp EquipAccounts PayableCapital10,60025,000118,00041,32013,000130,000Draw13,000Fee income374,460Depr expense eqSalary expense21,160166,000Insurance expense11,400Rent expenseSupply expenseTelephone expenseutilities expense33,0005,6006,8009,400Totals558,780558,780Prepare the Closing EntriesClosing entriesAccount titleDebitCredit1234Enter the beginning balances from the trail balance into the General Ledger AccountsPost the Closing Entries to the General LedgerGeneral LedgerCashRefDebitCreditBalance80,000accounts receivableRefDebitCreditBalance58,820EquipmentRefDebitCreditBalance110 000D0DashboardCalendarTo DoNotificationsInbox因

1. Closing Entries - Closing Entries are made at the end of the financial year. These are required…

Closing Problem The ledger accounts of E-Resources appear as follows on March 31, 201X: All accounts have normal balances. Journalize and post the closing entries. The adjusted trial balance balances have been entered into the General Ledgers accounts for you. Journal the closing entries 2. Post the closing entries to the GL accounts $ Include revenue, expenses and draw 3. Prepare a post closing trial balance 1. TRIAL BALANCE Adjusted Trail Balance DR CR Cash 80,000 accounts rec 58,820 Supplies Ppd Insurance 10,600 25,000 Equipment Accum Drp Equip Accounts Payable 118,000 41,320 13,000 Capital 130,000 Draw 13,000 Fee income 374,460 Depr expense eq Salary expense Insurance expense 21,160 166,000 11,400 33,000 5,600 Rent expense Supply expense Telephone expense utilities expense 6,800 9,400 558,780 Totals 558,780 Prepare the Closing Entries Closing entries Account title Debit Credit 2 3 4 Enter the beginning balances from the trail balance into the General Ledger Accounts Post the Closing Entries to the General Ledger General Ledger Cash Ref |Debit |Credit Balance 80,000 accounts receivable Ref Debit Credit Balance 58,820 Equipment Ref |Debit |Credit |Balance 000 Dashboard Calendar To Do Notifications Inbox

Closing Problem The ledger accounts of E-Resources appear as follows on March 31, 201X: All accounts have normal balances. Journalize and post the closing entries. The adjusted trial balance balances have been entered into the General Ledgers accounts for you. Journal the closing entries 2. Post the closing entries to the GL accounts $ Include revenue, expenses and draw 3. Prepare a post closing trial balance 1. TRIAL BALANCE Adjusted Trail Balance DR CR Cash 80,000 accounts rec 58,820 Supplies Ppd Insurance 10,600 25,000 Equipment Accum Drp Equip Accounts Payable 118,000 41,320 13,000 Capital 130,000 Draw 13,000 Fee income 374,460 Depr expense eq Salary expense Insurance expense 21,160 166,000 11,400 33,000 5,600 Rent expense Supply expense Telephone expense utilities expense 6,800 9,400 558,780 Totals 558,780 Prepare the Closing Entries Closing entries Account title Debit Credit 2 3 4 Enter the beginning balances from the trail balance into the General Ledger Accounts Post the Closing Entries to the General Ledger General Ledger Cash Ref |Debit |Credit Balance 80,000 accounts receivable Ref Debit Credit Balance 58,820 Equipment Ref |Debit |Credit |Balance 000 Dashboard Calendar To Do Notifications Inbox

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter6: Financial Statements And The Closing Process

Section: Chapter Questions

Problem 8SPB: PROBLEM 6-7B CLOSING ENTRIES AND POST-CLOSING TRIAL BALANCE Refer to the work sheet for Juanitas...

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