Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 30 Jul 2017 My Price 9.00

Greg Painting Company

Preparation of Closing Entries

P 7. The adjusted trial balance for Greg Painting Company at December 31, 2011, is provided below. The owner made no investments during the period.

Greg Painting Company

Adjusted Trial Balance

December 31, 2011

Cash

$ 4,750

  

Accounts Receivable

2,592

  

Prepaid Insurance

380

  

Prepaid Rent

200

  

Painting Supplies

152

  

Painting Equipment

3,875

  

Accumulated Depreciation–Painting Equipment

  

$ 320

Truck

7,200

  

Accumulated Depreciation–Truck

  

720

Accounts Payable

  

420

Wages Payable

  

295

Unearned Painting Revenue

  

1,690

G. Rak, Capital

  

15,034

G. Rak, Withdrawals

2,000

  

Painting Revenue

  

14,620

Wages Expense

5,680

  

Rent Expense

1,350

  

Gas, Oil, and Other Truck Expenses

580

  

Insurance Expense

380

  

Supplies Expense

2,920

  

Depreciation Expense–Painting Equipment

320

  

Depreciation Expense–Truck

720

  
 

$33,099

$33,099

Required

Prepare in journal form the required closing entries.

Answers

Maurice Tutor
(5)
Status NEW Posted 30 Jul 2017 02:07 PM My Price 9.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------acq-----------uis-----------iti-----------on -----------of -----------my -----------sol-----------uti-----------on.-----------Ple-----------ase----------- pi-----------ng -----------me -----------on -----------cha-----------t I----------- am----------- on-----------lin-----------e o-----------r i-----------nbo-----------x m-----------e a----------- me-----------ssa-----------ge -----------I w-----------ill----------- be----------- ca-----------tch-----------

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