PA4-1 Preparing a Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance (L04-3, L04-5) ElecBooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Amounts in the list of accounts are rounded to the nearest dollar, Assume the year ended on September 30, 2020 Accounts Payable $275 209 Accounts Receivable Accrued Liabilities Accumulated Depreciation 372 318 Cash 325 Contributed Capital 169 Depreciation Expense 358 General and Administrative 375 Expenses 320 Income Tax Expense Interest Revenue Long-Term Debt Other Current Assets 110 214 89 515 Other Long-Lived Assets Other Operating Expenses i Prepaid Expenses 215 112 Property and Equipment 2,196 Retained Earnings 1,499 2,659 Selling Expenses Service Revenues Short-Term Bank Loan 6,549 494 2,220 Store Operating Expenses Supplies 600 Deferred Revenue 193 Required: 1-a. Prepare an adjusted trial balance at September 30, 2020
PA4-1 Preparing a Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance (L04-3, L04-5) ElecBooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Amounts in the list of accounts are rounded to the nearest dollar, Assume the year ended on September 30, 2020 Accounts Payable $275 209 Accounts Receivable Accrued Liabilities Accumulated Depreciation 372 318 Cash 325 Contributed Capital 169 Depreciation Expense 358 General and Administrative 375 Expenses 320 Income Tax Expense Interest Revenue Long-Term Debt Other Current Assets 110 214 89 515 Other Long-Lived Assets Other Operating Expenses i Prepaid Expenses 215 112 Property and Equipment 2,196 Retained Earnings 1,499 2,659 Selling Expenses Service Revenues Short-Term Bank Loan 6,549 494 2,220 Store Operating Expenses Supplies 600 Deferred Revenue 193 Required: 1-a. Prepare an adjusted trial balance at September 30, 2020
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter5: Accounting Systems
Section: Chapter Questions
Problem 8E
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