Ноmework The following is the adjusted trial balance as of December 31, 2020 of ABC Company. Prepare CLOSING entries. Accounts Debit Credit Cash $18,000 Accounts Receivable 30,000 Prepaid Insurance 9,000 Office Supplies 3,200 Building 165,000 Accumulated Depreciation-Building $12,000 Equipment 88,000 Accumulated Depreciation-Equipment 8,500 Land 45,000 Accounts Payable 12,000 Salaries Payable Unearned service revenue 2,000 25,000 Mortgage Payable Martin, Capital 100,000 21,290 Martin, Withdrawals 25,840 Service Revenue 325,000 Salaries Expense Depreciation Expense-Building and Equipment 63,000 6,250 Supplies Expense Insurance Expense Utilities Expense Total 15,000 14,500 23,000 $505.790 $505,790
Ноmework The following is the adjusted trial balance as of December 31, 2020 of ABC Company. Prepare CLOSING entries. Accounts Debit Credit Cash $18,000 Accounts Receivable 30,000 Prepaid Insurance 9,000 Office Supplies 3,200 Building 165,000 Accumulated Depreciation-Building $12,000 Equipment 88,000 Accumulated Depreciation-Equipment 8,500 Land 45,000 Accounts Payable 12,000 Salaries Payable Unearned service revenue 2,000 25,000 Mortgage Payable Martin, Capital 100,000 21,290 Martin, Withdrawals 25,840 Service Revenue 325,000 Salaries Expense Depreciation Expense-Building and Equipment 63,000 6,250 Supplies Expense Insurance Expense Utilities Expense Total 15,000 14,500 23,000 $505.790 $505,790
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 68BPSB
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