load e Edit and reply Accessibility Mode Print Find Problem 2: (15 points) Ledge

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load e Edit and reply Accessibility Mode Print Find Problem 2: (15 points) Ledger Account Balances for Shutterbug Photography at December 31, 2017is as follows: $15,000 Accounts Receivable Prepaid Insurance 160,000 Accumulated Depreciation-Building Equipment Accumulated Deprectation-Equipment 75,000 40,000 12,000 2,000 25,000 100,000 21290 Accounts Payable Salaries Payable Unearned Revenue Mortgage Payable T. Smith, Capital T. Smith Withdrawals Service Revenue Salaries Expense Depreciation Expense-Building and Equipment Supplies Expense Insurance Expense Utilities Expense 289,000 61000 6,150 14,040 14,000 Using the information above prepare a post-closing trial balance for Shutterbug Photography (dated December 31, 2017) HELP IMPROVE

Explanation / Answer

Solution :

Shutterbug Photography Trial balance 31-Dec-17 Particulars Debit Credit Cash $15,000.00 Accounts Receivables $30,000.00 Prepaid Insurance $7,500.00 Supplies $3,200.00 Building $160,000.00 Accumulated depreciation - Building $12,000.00 Equipment $75,000.00 Accumulated depreciation - Equipment $8,500.00 Land $40,000.00 Accounts Payable $12,000.00 Salaries Payable $2,000.00 Unearned revenue $25,000.00 Mortgage payable $100,000.00 T Smith Capital $21,290.00 T Smith withdrawl $23,000.00 Service Revenue $289,000.00 Salaries Expense $61,000.00 Depreciation Expense - Building and Equipment $6,150.00 Supplies Expense $14,040.00 Insurance Expense $14,000.00 Utilities Expense $20,900.00 Total $469,790.00 $469,790.00

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