The following information applies to the questions displayed below.] The followi
ID: 2547409 • Letter: T
Question
The following information applies to the questions displayed below.] The following is a list of accounts and amounts for Rollcom, Inc., for the fiscal year ended September 30, 2015. The accounts have normal debit or credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Cash Common Stock Equipment Income lax Expense Notes Payable (long-term) Office Expense Rent Expense Retained Earnings Salaries and Wages Expense Sales Revenue Supplies $ 39,600 67,000 22,000 80,800 95,300 91,200 10,550 1,550 6,350 164,700 99,850 129,200 327,200 35,700Explanation / Answer
Answer:
1
Adjusted Trial balance
Accounts Payable
$
39,600
Accounts Receivable
67000
Accumulated Depreciation—Equipment
22,000
Cash
80800
Common Stock
95,300
Equipment
91200
Income Tax Expense
10,550
Notes Payable (long-term)
1,550
Office Expense
6350
Rent Expense
164700
Retained Earnings
99,850
Salaries and Wages Expense
129200
Sales Revenue
327,200
Supplies
35700
Total
585500
585500
2
Closing entry
Description
Debit $
Credit $
Sales revenue
327200
Income summary
327200
Income summary
310800
Rent expases
164700
Income tax expanses
10550
Office Expanses
6350
Salary and wages
129200
Income summary
16400
Retained earning
16400
3
Post closing trial Balance
Accounts Payable
$
39,600
Accounts Receivable
67000
Accumulated Depreciation—Equipment
22,000
Cash
80800
Common Stock
95,300
Equipment
91200
Notes Payable (long-term)
1,550
Retained Earnings
116,250
Supplies
35700
Total
274700
274700
Adjusted Trial balance
Accounts Payable
$
39,600
Accounts Receivable
67000
Accumulated Depreciation—Equipment
22,000
Cash
80800
Common Stock
95,300
Equipment
91200
Income Tax Expense
10,550
Notes Payable (long-term)
1,550
Office Expense
6350
Rent Expense
164700
Retained Earnings
99,850
Salaries and Wages Expense
129200
Sales Revenue
327,200
Supplies
35700
Total
585500
585500
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