FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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  • Post the closing entries into ledger; and Prepare a post-closing trial balance.
Zubaer Company has the following Trial Balance
Zubaer Company
Trial Balance
October 31, 2020
SI No. Particular
Cash
Credit Tk.
Debit Tk.
1
15,400
2
Accounts Receivable
2,800
3
Prepaid Insurance
2,400
4
Supplies
2,300
Equipment
60,000
Zubaer, Drawing
2,000
7
Advertising Expense
1,400
Rent Expense
1,800
Salaries Expense
3,200
10
Notes Payable
50,000
11
Accounts Payable
2,400
12
Zubaer, Capital
30,000
13
Service Revenue
8,900
Total
91,300
91.300
Additional data:
1. Interest of Tk.1, o00 on the notes payable has accrued during October.
2. Insurance expires at the rate of Tk. 600 per month.
3. Tk. 1,500 of supplies are on hand at December 31.
4. Monthly depreciation on the equipment is Tk. 1,000.
N CO
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Transcribed Image Text:Zubaer Company has the following Trial Balance Zubaer Company Trial Balance October 31, 2020 SI No. Particular Cash Credit Tk. Debit Tk. 1 15,400 2 Accounts Receivable 2,800 3 Prepaid Insurance 2,400 4 Supplies 2,300 Equipment 60,000 Zubaer, Drawing 2,000 7 Advertising Expense 1,400 Rent Expense 1,800 Salaries Expense 3,200 10 Notes Payable 50,000 11 Accounts Payable 2,400 12 Zubaer, Capital 30,000 13 Service Revenue 8,900 Total 91,300 91.300 Additional data: 1. Interest of Tk.1, o00 on the notes payable has accrued during October. 2. Insurance expires at the rate of Tk. 600 per month. 3. Tk. 1,500 of supplies are on hand at December 31. 4. Monthly depreciation on the equipment is Tk. 1,000. N CO
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