Financial Accounting, Student Value Edition (5th Edition)
5th Edition
ISBN: 9780134728520
Author: Robert Kemp, Jeffrey Waybright
Publisher: PEARSON
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Textbook Question
Chapter 3, Problem 41BE
Preparing closing entries (Learning Objective 4) 10-15 min.
The following is the adjusted
| Health Services, Inc. Adjusted Trial Balance December 31, 2018 |
||||
| ACCOUNT | DEBIT | CREDIT | ||
| Cash | $ 6,400 | |||
| 12,000 | ||||
| Supplies | 220 | |||
| Furniture | 6,500 | |||
| Accumulated Depreciation, Furniture | $ 1,800 | |||
| Equipment | 21,000 | |||
| Accumulated Depreciation. Equipment | 3,400 | |||
| Accounts Payable | 1,000 | |||
| Salaries Payable | 4,300 | |||
| Unearned Service Revenue | 2,500 | |||
| Common Stock | 21,000 | |||
| 19,920 | ||||
| Dividends | 18,000 | |||
| Service Revenue | 77,800 | |||
| Salaries Expense | 53,400 | |||
| Rent Expense | 11,700 | |||
| Depreciation Expense, Equipment | 1,200 | |||
| Depreciation Expense, Furniture | 800 | |||
| Supplies Expense | 500 | |||
| Total | $131,720 | $131,720 | ||
Requirement
- 1. Journalize the closing entries at December 31.
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Chapter 3 Solutions
Financial Accounting, Student Value Edition (5th Edition)
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