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.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter3: Basic Accounting Systems: Accrual Basis

Section: Chapter Questions

Problem 3.6.3P: Adjustment process and financial statements Adjustment data for Ms. Ellen’s Laundry Inc. for the...

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