At June 30, 2017, the end of its most recent fiscal year, Blue Computer Consulta
ID: 2557721 • Letter: A
Question
At June 30, 2017, the end of its most recent fiscal year, Blue Computer Consultants’ post-closing trial balance was as follows:
The company underwent a major expansion in July. New staff was hired and more financing was obtained. Blue conducted the following transactions during July 2017, and adjusts its accounts monthly.
Adjustment data:
The chart of accounts for Blue Computer Consultants contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance. Prepaid Rent, Equipment, Accumulated Depreciation—Equipment, Accounts Payable, Notes Payable, Interest Payable, Income Taxes Payable, Salaries and Wages Payable, Unearned Service Revenue, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Supplies Expense, Depreciation Expense, Insurance Expense, Salaries and Wages Expense, Advertising Expense, Income Tax Expense, Interest Expense, Rent Expense, Supplies Expense, and Utilities Expense.
**********Prepare a post-closing trial balance*******
Here is some of the info I have already thus far its a comprehensive problem so these are from the other steps
Debit Credit Cash $6,380 Accounts receivable 1,460 Supplies 840 Accounts payable $490 Unearned service revenue 1,370 Common stock 4,400 Retained earnings 2,420 $8,680 $8,680Explanation / Answer
Answer
General Journal
Debit
Credit
Service Revenue
$ 47,770.00
Income Summary
$ 47,770.00
Income Summary
$ 39,412.00
Advertising Expense
$ 2,700.00
Salary Expense
$ 26,800.00
Insurance Expense
$ 350.00
Supply Expense
$ 1,500.00
Depreciation Expense
$ 600.00
Rent Expense
$ 4,900.00
Interest Expense
$ 122.00
Utility Expense
$ 980.00
Income Tax
$ 1,460.00
Income Summary
$ 8,358.00
Retained earnings
$ 8,358.00
Post Closing Trail Balance
Debit ($)
Credit ($)
Accounts Receivable
15900
Cash
64850
Prepaid Rent
4900
Equipment
28800
Accumulated Depreciation
600
Prepaid Insurance
3850
Supplies
3940
Note Payable 6%
24400
Common Stock 24400 Share
65400
Salary Payable
13400
Interes Payable
122
Income Tax Payable
1460
Accounts Payable
3680
Unearned Service Revenue
2400
Retained Earning
10778
Total
$122,240
$122,240
General Journal
Debit
Credit
Service Revenue
$ 47,770.00
Income Summary
$ 47,770.00
Income Summary
$ 39,412.00
Advertising Expense
$ 2,700.00
Salary Expense
$ 26,800.00
Insurance Expense
$ 350.00
Supply Expense
$ 1,500.00
Depreciation Expense
$ 600.00
Rent Expense
$ 4,900.00
Interest Expense
$ 122.00
Utility Expense
$ 980.00
Income Tax
$ 1,460.00
Income Summary
$ 8,358.00
Retained earnings
$ 8,358.00
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.