The following adjusted trial balance is for Jasper Appliance Repair Company:
|
JASPER APPLIANCE REPAIR COMPANY |
||
|
Debits |
Credits |
|
|
Cash |
$63,000 |
|
|
Accounts Receivable |
42,000 |
|
|
Trucks |
110,000 |
|
|
Accumulated Depreciation—Trucks |
$30,000 |
|
|
Accounts Payable |
10,800 |
|
|
Notes Payable |
20,000 |
|
|
Capital Stock |
50,000 |
|
|
Retained Earnings, 2009 July 1 |
5,500 |
|
|
Dividends |
10,000 |
|
|
Service Revenue |
230,000 |
|
|
Rent Expense |
12,000 |
|
|
Advertising Expense |
5,000 |
|
|
Salaries Expense |
90,000 |
|
|
Supplies Expense |
1,500 |
|
|
Insurance Expense |
1,200 |
|
|
Depreciation Expense—Trucks |
10,000 |
|
|
Interest Expense |
1,000 |
|
|
Miscellaneous Expense |
600 |
|
|
$346,300 |
$346,300 |
|
Prepare the closing journal entries at the end of the fiscal year, 2010 June 30.