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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
The December 31, 2011, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2011) follows.
No. |
Account Title |
Debit |
Credit |
101 |
Cash |
$ 48,372 |
 |
106 |
Accounts receivable |
5,668 |
 |
126 |
Computer supplies |
580 |
 |
128 |
Prepaid insurance |
1,665 |
 |
131 |
Prepaid rent |
825 |
 |
163 |
Office equipment |
8,000 |
 |
164 |
Accumulated depreciation—Office equipment |
 |
$400 |
167 |
Computer equipment |
20,000 |
 |
168 |
Accumulated depreciation—Computer equipment |
 |
1,250 |
201 |
Accounts payable |
 |
1,100 |
210 |
Wages payable |
 |
500 |
236 |
Unearned computer services revenue |
 |
1,500 |
301 |
SRey, Capital |
 |
73,000 |
302 |
SRey, Withdrawals |
7,100 |
 |
403 |
Computer services revenue |
 |
31,284 |
612 |
Depreciation expense—Office equipment |
400 |
 |
613 |
Depreciation expense—Computer equipment |
1,250 |
 |
623 |
Wages expense |
3,875 |
 |
637 |
Insurance expense |
555 |
 |
640 |
Rent expense |
2,475 |
 |
652 |
Computer supplies expense |
3,065 |
 |
655 |
Advertising expense |
2,753 |
 |
676 |
Mileage expense |
896 |
 |
677 |
Miscellaneous expenses |
250 |
 |
684 |
Repairs expense—Computer |
1,305 |
 |
901 |
Income summary |
 |
0 |
 |
Totals |
$109,034 |
$109,034 |
Required
1. Record and post the necessary closing entries for Business Solutions.
2. Prepare a post-closing trial balance as of December 31, 2011
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