E4-7 Emil Skoda Company had the following adjusted trial balance. EMIL SKODA COM
ID: 2360905 • Letter: E
Question
E4-7 Emil Skoda Company had the following adjusted trial balance.EMIL SKODA COMPANY
Adjusted Trial Balance
For the Month Ended June 30, 2008
Adjusted Trial Balance
Account Titles Debits Credits
Cash $3,712
Accounts Receivable 3,904
Supplies 480
Accounts Payable $1,792
Unearned Revenue 160
Common Stock 5,000
Retained Earnings 760
Dividends 300
Service Revenue 4,064
Salaries Expense 1,344
Miscellaneous Expense 256
Supplies Expense 2,228
Salaries Payable 448
$12,224 $12,224
Instructions
(a) Prepare closing entries at June 30, 2008.
(b) Prepare a post-closing trial balance.
Explanation / Answer
EMIL SKODA COMPANY
Adjusted Trial Balance
For the Month Ended June 30, 2011
Adjusted Trial Balance
Account Titles Debits Credits
Cash $3,712
Accounts Receivable 3,904
Supplies 480
Accounts Payable $1,792
Unearned Revenue 160
Common Stock 5,000
Retained Earnings 760
Dividends 300
Service Revenue 4,064
Salaries Expense 1,344
Miscellaneous Expense 256
Supplies Expense 2,228
Salaries Payable
June 30, 2010
ServiceRevenue
4064
4,064
June 30, 2010
Income summary
3828
Expenses
1314
miscellaneous
256
supplies
2258
June 30, 2010
Income summary
236
capital
206
June 30, 2010
capital
300
drawing
300
particulars
debits
particulars
credits
cash
3712
capital
5696
account
3904
Account payables
1792
supplies
480
Unearned revenue
160
448
total
8096
total
8096
June 30, 2010
ServiceRevenue
4064
4,064
June 30, 2010
Income summary
3828
Expenses
1314
miscellaneous
256
supplies
2258
June 30, 2010
Income summary
236
capital
206
June 30, 2010
capital
300
drawing
300
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