Required information [The following information applies to the questions display
ID: 2338506 • Letter: R
Question
Required information [The following information applies to the questions displayed below.] The following is a list of accounts and amounts reported for Rollcom, Inc., for the fiscal year ended September 30, 2018 The accounts have normal debit or credit balances. AccountsPayable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries and Wages Expense Sales Revenue Supplies 40,000 67,400 22,400 81,200 95,700 91,600 10,590 1,590 6,390 165,100 99,810 129,600 328,480 36,100 3. Prepare a post-closing trial balance at September 30, 2018. (Do not enter temporary accounts on post-closing trial balance.) ROLLCOM, INC Post-closing Trial Balance At September 30, 2018 Account Titles Debit Credit 81,200 67,400 91.600 36,100 Accounts Receivable quipment upplies 40,000 1,590 22,400 95,700 Accounts Payable otes Payable (long-term) Accumulated Depreciation mmon Stock etained Earnings 99,810 Totals 376,110 $159,690Explanation / Answer
ROLLCOM, INC.
Post-Closing Trial balance
At September 30 2018
Cash
$ 81,200.00
Accounts receivables
$ 67,400.00
Supplies
$ 36,100.00
Accumulated Depreciation
$ 22,400.00
Accounts payable
$ 40,000.00
Notes payable-Long term
$ 1,590.00
Common Stock
$ 95,700.00
Retained Earnings
$ 99,810.00
Equipment
$ 91,600.00
Income Summery
$ 16,800.00
Total
$ 276,300.00
$ 276,300.00
*Alternatively balance of Income summery could be transferred to retained earnings
Working
Adjusted
Closing Entries
Post Closing Trial
Dr
Cr
Dr
Cr
Dr
Cr
Cash
$ 81,200.00
$ 81,200.00
Accounts receivables
$ 67,400.00
$ 67,400.00
Supplies
$ 36,100.00
$ 36,100.00
Sales revenue
$ 328,480.00
$ 328,480.00
$ -
Accumulated Depreciation
$ 22,400.00
$ 22,400.00
Accounts payable
$ 40,000.00
$ 40,000.00
Notes payable-Long term
$ 1,590.00
$ 1,590.00
Common Stock
$ 95,700.00
$ 95,700.00
Retained Earnings
$ 99,810.00
$ 99,810.00
Income tax expense
$ 10,590.00
$ 10,590.00
$ -
Office Expenses
$ 6,390.00
$ 6,390.00
$ -
Rent Expense
$ 165,100.00
$ 165,100.00
$ -
Salaries and wages expense
$ 129,600.00
$ 129,600.00
$ -
Equipment
$ 91,600.00
$ 91,600.00
Sub Total
$ 587,980.00
$ 587,980.00
$ 328,480.00
$ 311,680.00
$ 276,300.00
$ 259,500.00
Income Summery
$ 16,800.00
16800
Final Total
$ 587,980.00
$ 587,980.00
$ 328,480.00
$ 328,480.00
$ 276,300.00
$ 276,300.00
ROLLCOM, INC.
Post-Closing Trial balance
At September 30 2018
Cash
$ 81,200.00
Accounts receivables
$ 67,400.00
Supplies
$ 36,100.00
Accumulated Depreciation
$ 22,400.00
Accounts payable
$ 40,000.00
Notes payable-Long term
$ 1,590.00
Common Stock
$ 95,700.00
Retained Earnings
$ 99,810.00
Equipment
$ 91,600.00
Income Summery
$ 16,800.00
Total
$ 276,300.00
$ 276,300.00
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