274 chapter 4E4-22 Preparing a worksheet and closing entriesCynthia Ebersole, CPA had the following partial worksheet as follows:Learning Objectives 2, 3Net Income $19,280D.G.H.K.CYNTHIA EBERSOLE, CPAWorksheetDecember 31, 2014Income StatementAdjustmentsCreditUnadjusted Trial BalanceAdjusted Trial BalanceBalance SheetAccount NamesDebitCreditDebitDebitCreditDebitCreditDebitCreditCash$ 45,200$ 45,200Accounts Receivable8,430(h) $ 4,03012,4609 Office SuppliesTO Prepaid Rent11 Furniture12 Accumulated Depreciation-Furniture13 Building14 Accumulated Depreciation-Building15 Land16 Accounts Payable17 Utilities Payable18 Salaries Payable19 Interest Payable20 Unearned Revenue21 Notes Payable22 Ebersole, Capital23 Ebersole, Withdrawals24 Service Revenue5 Rent Expense6 Salaries Expense7 Supplies ExpenseUtilities Expense600100 (b)5005,0002,500 (a)2,50025,00025,0001,500 (c)241,500100,000100,000750 (d)75010,00010,000%243,4003,4004304304,300 (f)4,300200 (g)2001,500 (e)60090020,00020,000174,900174,90030,00030,000105,0004,630 (e,h)109,63040,000(a)2,50042,50023,000(f)4,30027,300(b)10010018,00018,000Depreciation Expense-Furniture(c)1,5001,500Depreciation Expense-Building(d)750750Interest Expense(g)$ 305,230200200Total$ 305,230S 13,980 S 13,980$ 316,010$ 316,010Requirements1. Complete the worksheet.2. Prepare the closing entries for Cynthia Ebersole, CPA.

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Answered: Requirements 1. Complete the worksheet.…

Business

Accounting

Requirements 1. Complete the worksheet. 2. Prepare the closing entries for Cynthia Ebersole, CPA.

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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