FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Assuming the following Adjusted Trial Balance:
Adjusted Trial Balance
Debit
Credit
Cash
$23,900
Prepaid Insurance
4,000
Fixed Assets
45,000
Notes Payable
$40,000
Common Stock
26,000
Retained Earnings
48,350
Dividends
22,000
Sales Revenue
152,000
Automobile Expense
26,500
Insurance Expense
20,000
Salaries Expense
123,500
Supplies Expense
1,450
$266,350
$266,350
Create the Post-Closing Trial Balance that would result,
after all closing journal entries were made and posted. If an
amount box does not require an entry, leave it blank.
Post-Closing Trial Balance
Debit
Credit
Cash
Fixed Assets
Insurance Expense
Prepaid Insurance
Retained Earnings
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Transcribed Image Text:Assuming the following Adjusted Trial Balance: Adjusted Trial Balance Debit Credit Cash $23,900 Prepaid Insurance 4,000 Fixed Assets 45,000 Notes Payable $40,000 Common Stock 26,000 Retained Earnings 48,350 Dividends 22,000 Sales Revenue 152,000 Automobile Expense 26,500 Insurance Expense 20,000 Salaries Expense 123,500 Supplies Expense 1,450 $266,350 $266,350 Create the Post-Closing Trial Balance that would result, after all closing journal entries were made and posted. If an amount box does not require an entry, leave it blank. Post-Closing Trial Balance Debit Credit Cash Fixed Assets Insurance Expense Prepaid Insurance Retained Earnings
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