The adjusted trial balance of Rotan Company at the end of its fiscal year is: Rotan Company Adjusted Trial Balance 30 June 2021 Debit (RM) Credit (RM) Cash 14,820 Accounts Receivable 8,780 Equipment Accumulated Depreciation - Equipment Accounts Payable 15,900 5,400 4,200 Unearned Rent Revenue 1,800 Ordinary Share Capital Dividends 45,200 16,000 Commission Revenue 67,000 Rent Revenue 6,500 Depreciation Expense – Equipment Salaries Expense Utilities Expense 4,000 55,700 14,900 RM 130,100 RM 130,100 Instructions a) Prepare the closing entries. b) Post to Retained Earnings and Income Summary account.
The adjusted trial balance of Rotan Company at the end of its fiscal year is: Rotan Company Adjusted Trial Balance 30 June 2021 Debit (RM) Credit (RM) Cash 14,820 Accounts Receivable 8,780 Equipment Accumulated Depreciation - Equipment Accounts Payable 15,900 5,400 4,200 Unearned Rent Revenue 1,800 Ordinary Share Capital Dividends 45,200 16,000 Commission Revenue 67,000 Rent Revenue 6,500 Depreciation Expense – Equipment Salaries Expense Utilities Expense 4,000 55,700 14,900 RM 130,100 RM 130,100 Instructions a) Prepare the closing entries. b) Post to Retained Earnings and Income Summary account.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 12P: Balance Sheet from Adjusted Trial Balance The following is the alphabetical adjusted trial balance...
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