
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Question
Provide the Correct answer with calculation and explanation

Transcribed Image Text:+
The adjusted trial balance columns of the worksheet for De Sousa Company are as
follows.
DESOUSA COMPANY Worksheet (partial) For the Month Ended April 30,
2017
Adjusted Trial Balance
Account Titles
Cash
Accounts Receivable
Prepaid Rent
Equipment
Dr.
Cr.
10,000
7,780
2,320
22,850
Accumulated Depreciation-Equip.
4,500
Notes Payable
5,900
Accounts Payable
4,500
Common Stock
20,250
Retained Earnings
8,550
Dividends
3,850
Service Revenue
15,500
Salaries and Wages Expense
11,000
Rent Expense
800
Depreciation Expense
600
Interest Expense
50
Interest Payable
50
Totals
59,250
59,250
Journalize the closing entries at April 30.
Post the closing entries to Income Summary and Retained Earnings.
Prepare a post-closing trial balance at April 30.
Expert Solution

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

Knowledge Booster
Similar questions
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