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The adjusted trial balance shown below is for Smith Company at the end of its fiscal year: SMITH COMPANY Adjusted Trial Balance December 31, 2017 Debit Credit Cash $ 15,400 Accounts Receivable 2,200 Supplies 1,800 Equipment 15,500 Accumulated Depreciation—Equipment $ 4,000 Accounts Payable 3,000 Unearned Service Revenue 5,000 Common Stock 15,000 Retained Earnings 7,400 Dividends 3,500 Service Revenue 9,500 Supplies Expense 1,100 Depreciation Expense 2,500 Rent Expense 1,900 $43,900 $43,900 Instructions: Prepare the closing journal entries for the temporary accounts at December 31
The adjusted trial balance shown below is for Smith Company at the end of its fiscal year:
SMITH COMPANY
Adjusted Trial Balance December 31, 2017
|
|
Debit |
Credit |
|
Cash |
$ 15,400 |
|
|
Accounts Receivable |
2,200 |
|
|
Supplies |
1,800 |
|
|
Equipment |
15,500 |
|
|
Accumulated Depreciation—Equipment |
|
$ 4,000 |
|
Accounts Payable |
|
3,000 |
|
Unearned Service Revenue |
|
5,000 |
|
Common Stock |
|
15,000 |
|
Retained Earnings |
|
7,400 |
|
Dividends |
3,500 |
|
|
Service Revenue |
|
9,500 |
|
Supplies Expense |
1,100 |
|
|
Depreciation Expense |
2,500 |
|
|
Rent Expense |
1,900 |
|
|
|
$43,900 |
$43,900 |
|
Instructions: |
|
|
Prepare the closing journal entries for the temporary accounts at December 31.
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