
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Post the closing entries into ledger; and Prepare a post-closingtrial balance .

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
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 2 steps with 2 images

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- A schedule set up to combine similar general ledger accounts, the total of which appears on the working trial balance as a single amount, is referred to as a: Supporting schedule, Lead schedule, Corrobrating schedule, or Reconciling schedulearrow_forwardComplete the statement: closing entries ________ A. Reflect the net income for the accounting period B. Are also posted in the subsidiary ledgers C. Involve all ledger accounts D. Are recorded in the special journals The process wherein transactions are recorded in the journal are transferred to the appropriate accounts in the general ledger and subsildiary ledgers, if appropriate, is called ___________ A. Ledgering B. Analyzing C. Posting D. Journalizingarrow_forwardWhat account type are included in a post-closing trial balancearrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education


Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,

Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON

Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education