Plevin Company ended its fiscal year on July 31, 2014. The company”s adjusted trial balance as of the end of its fiscal year is shown below.
|
PLEVIN COMPANY Adjusted Trial Balance July 31, 2014 |
|||
|
Account Titles |
Debit |
Credit |
|
|
101 157 |
Cash Accounts Receivable Equipment |
$ 9,840 8,780 15,900 |
|
|
158 |
Accumulated Depreciation—Equip. |
$ 7,400 |
|
|
201 |
Accounts Payable |
4,220 |
|
|
208 |
Unearned Rent Revenue |
1,800 |
|
|
301 |
Owner”s Capital |
45,200 |
|
|
306 |
Owner”s Drawings |
16,000 |
|
|
400 |
Service Revenue |
64,000 |
|
|
429 |
Rent Revenue |
6,500 |
|
|
711 |
Depreciation Expense |
8,000 |
|
|
726 |
Salaries and Wages Expense |
55,700 |
|
|
732 |
Utilities Expense |
14,900 |
|
|
$129,120 |
$129,120 |
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Instructions
(a) Prepare the closing entries using page J15.
(b) Post to Owner”s Capital and No. 350 Income Summary accounts. (Use the three-column form.)
(c) Prepare a post-closing trial balance at July 31.