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The December 31, 2021 adjusted trial balance section of Premier Construction's work sheet is below Adjusted Trial Balance Account Titles Dr. Cr 101 Cash 5,468 106 Accounts Receivable 19,000 1,500 115 Other Receivables 126 Supplies 500 127 Prepaid Advertising 600 131 Prepaid Rent 1,000 40,000 2,000 163 Construction Equipment 167 Office Furniture Accounts Payable J. Doe-Capital J. Doe-Draws 7,900 60,000 201 301 303 5,000 403 Construction Income 28,950 Subcontractor Expense Advertising Expense Insurance Expense Mileage Expense Office Expense Repairs and Maintenance Expense Supplies Expense Wages Expense Totals 500 7,900 600 1,790 637 900 640 892 1,300 1,700 2,350 8,050 652 676 677 684 Prepaid Insurance Rent Expense 128 2,700 655 3,000 236 Unearned Construction Income 6,400 2,400 Wages Payable Depr. Exp-Construction Equipment 164 210 622 1,800 Accum. Depr.-Construction Equipment 623 1,800 Depr. Exp-Office Furniture Accum. Depr.-Office Furniture 71 168 71 Totals 107,521 107,521 Instructions 1. Enter the adjusted balances in the T-accounts. 2. Write the closing entries on a journal page. Number each journal entry (e.g., CJE-1) and use proper form. 3. Post the closing entries to the T-accounts. Show CJE and the entry number in the T-account as well (e.g. CJE1). 4. Prepare a post-closing trial balance.

The December 31, 2021 adjusted trial balance section of Premier Construction's work sheet is below Adjusted Trial Balance Account Titles Dr. Cr 101 Cash 5,468 106 Accounts Receivable 19,000 1,500 115 Other Receivables 126 Supplies 500 127 Prepaid Advertising 600 131 Prepaid Rent 1,000 40,000 2,000 163 Construction Equipment 167 Office Furniture Accounts Payable J. Doe-Capital J. Doe-Draws 7,900 60,000 201 301 303 5,000 403 Construction Income 28,950 Subcontractor Expense Advertising Expense Insurance Expense Mileage Expense Office Expense Repairs and Maintenance Expense Supplies Expense Wages Expense Totals 500 7,900 600 1,790 637 900 640 892 1,300 1,700 2,350 8,050 652 676 677 684 Prepaid Insurance Rent Expense 128 2,700 655 3,000 236 Unearned Construction Income 6,400 2,400 Wages Payable Depr. Exp-Construction Equipment 164 210 622 1,800 Accum. Depr.-Construction Equipment 623 1,800 Depr. Exp-Office Furniture Accum. Depr.-Office Furniture 71 168 71 Totals 107,521 107,521 Instructions 1. Enter the adjusted balances in the T-accounts. 2. Write the closing entries on a journal page. Number each journal entry (e.g., CJE-1) and use proper form. 3. Post the closing entries to the T-accounts. Show CJE and the entry number in the T-account as well (e.g. CJE1). 4. Prepare a post-closing trial balance.

Century 21 Accounting General Journal
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter22: End-of-fiscal-period Work For A Corporation
Section: Chapter Questions
Problem 1AP
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The December 31, 2021 adjusted trial balance section of Premier Construction's work sheet is below Adjusted Trial Balance Account Titles Dr. Cr 5.468 19,000 1,500 500 101 Cash 106 Accounts Receivable 115 Other Receivables Supplies Prepaid Advertising 131 126 127 600 Prepaid Rent 1,000 40,000 2,000 163 Construction Equipment 167 Office Furniture Accounts Payable J. Doe-Capital J. Doe-Draws 201 7,900 60,000 301 303 5,000 403 Construction Income 28,950 Subcontractor Expense Advertising Expense Insurance Expense Mileage Expense Office Expense Repairs and Maintenance Expense Supplies Expense Wages Expense Totals 500 7,900 1,790 600 637 900 640 892 1,300 1,700 2,350 8,050 652 676 677 684 Prepaid Insurance Rent Expense 128 2,700 3,000 655 236 Unearned Construction Income 6,400 Wages Payable Depr. Exp-Construction Equipment 210 2,400 622 1,800 164 Accum. Depr.-Construction Equipment 1,800 Depr. Exp-Office Furniture Accum. Depr.-Office Furniture 623 71 168 71 Totals 107,521 107,521 Instructions 1. Enter the adjusted balances in the T-accounts. 2. Write the closing entries on a journal page. Number each journal entry (e.g., CJE-1) and use proper form. 3. Post the closing entries to the T-accounts. Show CJE and the entry number in the T-account as well (e.g. CJE1). 4. Prepare a post-closing trial balance.
Transcribed Image Text:The December 31, 2021 adjusted trial balance section of Premier Construction's work sheet is below Adjusted Trial Balance Account Titles Dr. Cr 5.468 19,000 1,500 500 101 Cash 106 Accounts Receivable 115 Other Receivables Supplies Prepaid Advertising 131 126 127 600 Prepaid Rent 1,000 40,000 2,000 163 Construction Equipment 167 Office Furniture Accounts Payable J. Doe-Capital J. Doe-Draws 201 7,900 60,000 301 303 5,000 403 Construction Income 28,950 Subcontractor Expense Advertising Expense Insurance Expense Mileage Expense Office Expense Repairs and Maintenance Expense Supplies Expense Wages Expense Totals 500 7,900 1,790 600 637 900 640 892 1,300 1,700 2,350 8,050 652 676 677 684 Prepaid Insurance Rent Expense 128 2,700 3,000 655 236 Unearned Construction Income 6,400 Wages Payable Depr. Exp-Construction Equipment 210 2,400 622 1,800 164 Accum. Depr.-Construction Equipment 1,800 Depr. Exp-Office Furniture Accum. Depr.-Office Furniture 623 71 168 71 Totals 107,521 107,521 Instructions 1. Enter the adjusted balances in the T-accounts. 2. Write the closing entries on a journal page. Number each journal entry (e.g., CJE-1) and use proper form. 3. Post the closing entries to the T-accounts. Show CJE and the entry number in the T-account as well (e.g. CJE1). 4. Prepare a post-closing trial balance.
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