Use the following Adjusted Trial Balance: Adjusted Trial Balance Debit Credit Cash $42,750 Prepaid Insurance 4,900 Equipment 36,000 Notes Payable $36,000 Common Stock 11,000 Retained Earnings 19,325 Dividends 26,000 Sales Revenue 245,400

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Use the following Adjusted Trial Balance:
Adjusted Trial Balance
Debit
Credit
Cash
$42,750
Prepaid Insurance
4,900
Equipment
36,000
Notes Payable
$36,000
Common Stock
11,000
Retained Earnings
325
Dividends
26,000
Sales Revenue
245,400
Automobile Expense
28,575
Insurance Expense
23,000
Salaries Expense
140,000
Supplies Expense
10,500
$311,725
$311,725
Transcribed Image Text:Use the following Adjusted Trial Balance: Adjusted Trial Balance Debit Credit Cash $42,750 Prepaid Insurance 4,900 Equipment 36,000 Notes Payable $36,000 Common Stock 11,000 Retained Earnings 325 Dividends 26,000 Sales Revenue 245,400 Automobile Expense 28,575 Insurance Expense 23,000 Salaries Expense 140,000 Supplies Expense 10,500 $311,725 $311,725
Prepare the four journal entries required to close the books. If an amount box does not require an entry, leave it blank.
А.
В.
C.
D.
Transcribed Image Text:Prepare the four journal entries required to close the books. If an amount box does not require an entry, leave it blank. А. В. C. D.
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