$286,222.00 I need help with all closing entries. Beg. Trial Balance Transaction
ID: 2461050 • Letter: #
Question
$286,222.00
I need help with all closing entries.
Beg. Trial Balance Transactions Unadjusted Trial Balance Adjustments Adjusted Trial Balance Closing Entries Post Closing Trial Balance AcctNo Name Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit 110 Cash $2,500.00 $0.00 2,513.00 4,703.00 $310.00 $0.00 $310.00 $0.00 $310.00 $0.00 120 Accounts Receivable $2,500.00 $0.00 3,250.00 3,500.00 $2,250.00 $0.00 $2,250.00 $0.00 $2,250.00 $0.00 140 Inventory $4,200.00 $0.00 $4,200.00 $0.00 400.00 $3,800.00 $0.00 $3,800.00 $0.00 151 Prepaid Insurance $200.00 $0.00 1,200.00 $1,400.00 $0.00 200.00 $1,200.00 $0.00 $1,200.00 $0.00 161 Land $20,000.00 $0.00 $20,000.00 $0.00 $20,000.00 $0.00 $20,000.00 $0.00 162 Building $50,000.00 $0.00 $50,000.00 $0.00 $50,000.00 $0.00 $50,000.00 $0.00 165 Equipment $7,500.00 $0.00 1,950.00 $9,450.00 $0.00 $9,450.00 $0.00 $9,450.00 $0.00 166 Vehicles $8,000.00 $0.00 5,000.00 $13,000.00 $0.00 $13,000.00 $0.00 $13,000.00 $0.00 182 Acc. Dep. Building $0.00 $13,500.00 $0.00 $13,500.00 2,250.00 $0.00 $15,750.00 $0.00 $15,750.00 185 Acc. Dep. Equipment $0.00 $5,250.00 $0.00 $5,250.00 1,750.00 $0.00 $7,000.00 $0.00 $7,000.00 186 Acc. Dep. Vehicles $0.00 $2,000.00 $0.00 $2,000.00 2,000.00 $0.00 $4,000.00 $0.00 $4,000.00 200 Line of Credit $0.00 $25,000.00 $0.00 $25,000.00 $0.00 $25,000.00 $0.00 $25,000.00 210 Accounts Payable $0.00 $1,500.00 2,500.00 4,500.00 $0.00 $3,500.00 $0.00 $3,500.00 $0.00 $3,500.00 215 Interest Payable $0.00 $0.00 $0.00 $0.00 125.00 $0.00 $125.00 $0.00 $125.00 224 Sales Tax Payable $0.00 $1,100.00 $0.00 $1,100.00 $0.00 $1,100.00 $0.00 $1,100.00 230 Book Deposits $0.00 $0.00 25.00 $0.00 $25.00 $0.00 $25.00 $0.00 $25.00 241 Notes Payable $0.00 $0.00 1,700.00 $0.00 $1,700.00 $0.00 $1,700.00 $0.00 $1,700.00 310 Capital $0.00 $37,000.00 5,000.00 $0.00 $42,000.00 $0.00 $42,000.00 $0.00 $42,000.00 311 Drawing $5,800.00 $0.00 850.00 $6,650.00 $0.00 $6,650.00 $0.00 $6,650.00 $0.00 401 Book Sales $0.00 $180,500.00 3,250.00 $0.00 $183,750.00 $0.00 $183,750.00 $0.00 $183,750.00 405 Sales Discounts $2,500.00 $0.00 12.00 $2,512.00 $0.00 $2,512.00 $0.00 $2,512.00 $0.00 410 Sales Returns $2,000.00 $0.00 1,000.00 $3,000.00 $0.00 $3,000.00 $0.00 $3,000.00 $0.00 501 Book Purchases $110,900.00 $0.00 4,500.00 $115,400.00 $0.00 400.00 $115,800.00 $0.00 $115,800.00 $0.00 505 Freight In $2,000.00 $0.00 $2,000.00 $0.00 $2,000.00 $0.00 $2,000.00 $0.00 510 Purchase Discounts $0.00 $2,000.00 22.00 $0.00 $2,022.00 $0.00 $2,022.00 $0.00 $2,022.00 515 Purchase Returns $2,000.00 $0.00 1,000.00 $1,000.00 $0.00 $1,000.00 $0.00 $1,000.00 $0.00 601 Wages $20,000.00 $0.00 $20,000.00 $0.00 $20,000.00 $0.00 $20,000.00 $0.00 611 Utilities $10,000.00 $0.00 175.00 $10,175.00 $0.00 $10,175.00 $0.00 $10,175.00 $0.00 621 Advertising $10,000.00 $0.00 500.00 $10,500.00 $0.00 $10,500.00 $0.00 $10,500.00 $0.00 640 Professional Fees $1,500.00 $0.00 $1,500.00 $0.00 $1,500.00 $0.00 $1,500.00 $0.00 672 Depreciation - Building $0.00 $0.00 $0.00 $0.00 2,250.00 $2,250.00 $0.00 $2,250.00 $0.00 675 Depreciation - Equipment $0.00 $0.00 $0.00 $0.00 1,750.00 $1,750.00 $0.00 $1,750.00 $0.00 676 Depreciation - Vehicles $0.00 $0.00 $0.00 $0.00 2,000.00 $2,000.00 $0.00 $2,000.00 $0.00 690 Insurance $1,000.00 $0.00 $1,000.00 $0.00 200.00 $1,200.00 $0.00 $1,200.00 $0.00 760 Equipment Rent $1,000.00 $0.00 $1,000.00 $0.00 $1,000.00 $0.00 $1,000.00 $0.00 770 Repairs and Maintenance $1,000.00 $0.00 $1,000.00 $0.00 $1,000.00 $0.00 $1,000.00 $0.00 810 Interest Income $0.00 $250.00 $0.00 $250.00 $0.00 $250.00 $0.00 $250.00 820 Interest Expense $2,500.00 $0.00 250.00 $2,750.00 $0.00 125.00 $2,875.00 $0.00 $2,875.00 $0.00 900 Personal Property Taxes $1,000.00 $0.00 $1,000.00 $0.00 $1,000.00 $0.00 $1,000.00 $0.00 Totals $268,100.00 $268,100.00 23,700.00 23,700.00 $280,097.00 $280,097.00 6,725.00 6,725.00 $286,222.00 $286,222.00 $0.00 $0.00 $286,222.00$286,222.00
Explanation / Answer
Adjusted Trial balance Closing Entries Post Closing Entries AcctNo Name Debit Credit Debit Credit Debit Credit 110 Cash 310 0 310 0 120 Accounts Receivable 2,250.00 0 2250 0 140 Inventory 3,800.00 0 3800 0 151 Prepaid Insurance 1,200.00 0 1200 0 161 Land 20,000.00 0 20000 0 162 Building 50,000.00 0 50000 0 165 Equipment 9,450.00 0 9450 0 166 Vehicles 13,000.00 0 13000 0 182 Acc. Dep. Building 0 15,750.00 0 15750 185 Acc. Dep. Equipment 0 7,000.00 0 7000 186 Acc. Dep. Vehicles 0 4,000.00 0 4000 200 Line of Credit 0 25,000.00 0 25000 210 Accounts Payable 0 3,500.00 0 3500 215 Interest Payable 0 125 0 125 224 Sales Tax Payable 0 1,100.00 0 1100 230 Book Deposits 0 25 0 25 241 Notes Payable 0 1,700.00 0 1700 310 Capital 0 42,000.00 6,460.00 48,460.00 311 Drawing 6,650.00 0 6,650.00 0.00 401 Book Sales 0 1,83,750.00 1,83,750.00 0.00 405 Sales Discounts 2,512.00 0 0.00 2,512.00 410 Sales Returns 3,000.00 0 0.00 3,000.00 501 Book Purchases 1,15,800.00 0 0.00 1,15,800.00 505 Freight In 2,000.00 0 0.00 2,000.00 510 Purchase Discounts 0 2,022.00 2,022.00 0.00 515 Purchase Returns 1,000.00 0 0.00 1,000.00 601 Wages 20,000.00 0 0.00 20,000.00 611 Utilities 10,175.00 0 0.00 10,175.00 621 Advertising 10,500.00 0 0.00 10,500.00 640 Professional Fees 1,500.00 0 0.00 1,500.00 672 Depreciation - Building 2,250.00 0 0.00 2,250.00 675 Depreciation - Equipment 1,750.00 0 0.00 1,750.00 676 Depreciation - Vehicles 2,000.00 0 0.00 2,000.00 690 Insurance 1,200.00 0 0.00 1,200.00 760 Equipment Rent 1,000.00 0 0.00 1,000.00 770 Repairs and Maintenance 1,000.00 0 0.00 1,000.00 810 Interest Income 0 250 250.00 0.00 820 Interest Expense 2,875.00 0 0.00 2,875.00 900 Personal Property Taxes 1,000.00 0 0.00 1,000.00 Totals 286222 286222 1,86,022.00 1,86,022.00 106660 106660
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.