the adjusted trial balance at march 31 2010 is as follows 491901
(Closing Entries and Preparing a Post-Closing Trial Balance)
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the adjusted trial balance at march 31 2010 is as follows 491901
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The adjusted trial balance at March 31, 2010 is as follows:
Jazzy Manufacturing
Adjusted Trial Balance
March 31, 2010
|
Debit |
Credit |
|
|
Cash |
11,400 |
|
|
Accounts Receivable |
7,000 |
|
|
Prepaid Rent |
2,000 |
|
|
Equipment |
20,000 |
|
|
Accumulated Depreciation – Equipment |
4,200 |
|
|
Notes Payable |
5,000 |
|
|
Accounts Payable |
4,950 |
|
|
Common Stock |
20,000 |
|
|
Retained Earnings |
5,800 |
|
|
Dividends |
3,500 |
|
|
Service Revenue |
14,500 |
|
|
Depreciation Expense |
600 |
|
|
Rent Expense |
500 |
|
|
Salaries Expense |
9,450 |
|
|
Interest Expense |
50 |
|
|
Interest Payable |
50 |
|
|
Totals |
54,500 |
54,500 |
Instructions
(a) Journalize the closing entries for Revenue and Expenses at March 31, 2010 on the tab labeled General Journal
(b) Post the closing entries for Revenue and Expenses to the ledger accounts on the tab labeled Ledger Accounts. (Be sure to calculate the balance in the account after each posted transaction)
(c) Journalize the closing entries for Income Summary and Dividends at March 31, 2010 on the tab labeled General Journal
(d) Post the closing entries for Income Summary and Dividends to the ledger accounts on the tab labeled Ledger Accounts (Be sure to calculate the balance in the account after each posted transaction)
(e) Prepare a post-closing trial balance at March 31, 2010 on the tab labeled Post-Closing Trial Balance.
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