JUPITER INCORPORATED Adjusted Trial Balance September 1, 20x1 Credit Debit Balan
ID: 2334314 • Letter: J
Question
JUPITER INCORPORATED Adjusted Trial Balance September 1, 20x1 Credit Debit Balances Balances Account Names $6,000 9,500 3,400 29,000 Cash Accounts receivable Office supplies Equipment Accumulated depreciation-equipment Salaries payable Interest payable Unearned rent revenue Common stock Retained earnin Rent revenue $6,000 14,000 8,000 9,000 3,000 13,900 7,200 Supplies expense Salary expense Interest expense 2,700 4,800 3,600 2,100 Totals $61,100 $61,100 Required: 1. Show the journal entries necessary to record the closing entries. Designate each entry by letter 2. Open the 15 ledger accounts listed on the adjusted trial balance in T- account format, showing the beginning account balances as given. Post the closing entries in requirement 1 to these accounts using the associated letter to mark each entry. When you have finished, calculate the balances for each account. 3. Prepare the post closing trial balance for JUPITER Incorporated as of September 1, 20x1. 4. Prapare the income satement, belance shet, and satement of changes in retained earnings for JUPITERExplanation / Answer
ANSWER:
Balance sheet:
Date Description Debit Credit September 1 Rent revenue 7200 Income summary 7200 Supplies expenses 2700 Salaries expenses 4800 Interest expenses 3600 Depreciation expenses equipment 2100 Retained earnings 13900Related Questions
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