al Post the closing entries to Income Summary and Owner\'s Capital. Use T-accoun

Question

al Post the closing entries to Income Summary and Owner's Capital. Use T-accounts (c) Prepare a post-closing trial balance at April 30. Prepare ad from a wo extend bal columns. E4-5 The adjustments columns of the worksheet for Becker Company are shown below Adjustments Debit 1,100 (LO 1) Account Titles Credit Accounts Receivable Prepaid Insurance Accumulated Depreciation-Equipment Salaries and Wages Payable Service Revenue Salaries and Wages Expense Insurance Expense Depreciation Expense 300 900 500 1,100 500 300 900 2,800 2,800 Instructions (a) Prepare the adjusting entries. b) Assuming the adjusted trial balance amount for each account is normal, indicate the inancial statement column to which each balance should be extended. E4-6 Selected worksheet data for Rosa Company are presented below De

Explanation / Answer

Date Account title & Explanations Debit Credit The following account will be extended Amount in $ Account receivable 1100 + Current asset in Balance sheet will be extended Sales Revenue 1100 + Revenue from sales in the Income statement will be extended To record the adjusting entry for sales reveneue Insurance expense 300 + Expenses in Income statement will be extended Prepaid Insurance 300 - Current asset in balance sheet will be reduced To record the adjusting entry for insurance expense Depreciation expense 900 + Expenses in Income statement will be extended Accumulated depreciation - Equipment 900 + Fixed asset/Non-current asset in the balance sheet will be extended To record the adjusting entry for depreciation expense Salaries and wages expense 500 + Expenses in Income statement will be extended Salaries and wages payable 500 + Current liability in the Balance sheet will be created or extended To record the adjusting entry for outstanding salaries and wages

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.