Directions shown in picture To the right is the Adjusted TrialBalance for Sandeep Company.Sandeep CompanyAdjusted Trial BalanceDecember 31, 2019Cash8,130In the space provided below,prepare a Post-Closing TrialBalance.Accounts ReceivablePrepaid ExpensesEquipmentAccumulated Depreciation3,3002,75010,4002,200Accounts PayableNotes Payable - Due on June 30, 2011Rena Sandeep, CapitalRena Sandeep, DrawingFees Earned2,7001,00011,2004,87036,600Wages ExpenseRent ExpenseUtilities ExpenseDepreciation ExpenseMiscellaneous Expense12,4504,9003,4752,1501,275Totals53,70053,700

In the closing trial balance, all the temporary accounts like revenues, expenses, and drawings are…

To the right is the Adjusted Trial Balance for Sandeep Company. Sandeep Company Adjusted Trial Balance December 31, 2019 Cash In the space provided below, prepare a Post-Closing Trial Balance. 8,130 3,300 2,750 10,400 Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation 2,200 Accounts Payable 2,700 Notes Payable - Due on June 30, 2011 Rena Sandeep, Capital Rena Sandeep, Drawing 1,000 11,200 4,870 Fees Earned 36,600 Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 12,450 4,900 3,475 2,150 1,275 53,700 Totals 53,700

To the right is the Adjusted Trial Balance for Sandeep Company. Sandeep Company Adjusted Trial Balance December 31, 2019 Cash In the space provided below, prepare a Post-Closing Trial Balance. 8,130 3,300 2,750 10,400 Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation 2,200 Accounts Payable 2,700 Notes Payable - Due on June 30, 2011 Rena Sandeep, Capital Rena Sandeep, Drawing 1,000 11,200 4,870 Fees Earned 36,600 Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 12,450 4,900 3,475 2,150 1,275 53,700 Totals 53,700

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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