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Posted: **Sun Jun 05, 2022 9:04 pm**

: Practice Contractors Adjusted Trial Balance December 31 2020 Account Title Cash Office Supplies Prepaid Insurance Equip 1 (62.15 KiB) Viewed 28 times

: Practice Contractors Adjusted Trial Balance December 31 2020 Account Title Cash Office Supplies Prepaid Insurance Equip 2 (33.42 KiB) Viewed 28 times

: Practice Contractors Adjusted Trial Balance December 31 2020 Account Title Cash Office Supplies Prepaid Insurance Equip 3 (25.26 KiB) Viewed 28 times

: Practice Contractors Adjusted Trial Balance December 31 2020 Account Title Cash Office Supplies Prepaid Insurance Equip 4 (50.46 KiB) Viewed 28 times

: Practice Contractors Adjusted Trial Balance December 31 2020 Account Title Cash Office Supplies Prepaid Insurance Equip 5 (26.05 KiB) Viewed 28 times

Practice Contractors ADJUSTED Trial Balance December 31, 2020 Account Title Cash Office supplies Prepaid insurance Equipment Accumulated depreciation-Equipment Accounts payable Wages payable Unearned service revenue Note Payable (Short-term) Note Payable (Long-term) Capital Withdrawals Repair service revenue Wages expense Rent expense Depreciation expense Office supplies expense Utilities expense Insurance expense Total Required: Based on the adjusted account balances listed above, complete the following: a. Income Statement b. Statement of Owner's Equity (Note: all owner investements were made during 2020) C. Classified Balance Sheet Remember: All adjustments have already been made. For Instructor Use Only Prob #1 Prob #2 Total Earned Total Possible 40 % Grade Debit T Credit 10,000 1,100 2,500 40,000 10,000 8,000 1,200 14,000 3,000 10,000 20,000 6,000 75,000 50,000 12,000 10,000 3,600 3,600 2,400 $ 141,200 $ 141,200 $
STEP 7 PREPARE INCOME STATEMENT STEP PREPARE STATEMENT OF OWNER'S EQUITY
1 Q @ 2 #2 W STEP PREPARE BALANCE SHEET (CLASSIFIED) # 3 R: $10 E $ 4 di F R 200 % 8 5 4: T 47 ‹ 6 at
Rehearse Professionals ADJUSTED Trial Balance December 31, 2020 $ Debit 15,000 1,400 2,500 50,000 Account Title Cash Office supplies Prepaid insurance Equipment Accumulated depreciation-Equipment 7,500 8,000 Accounts payable Wages payable 2,500 Unearned service revenue 15,000 Note Payable (Short-term) 5,000 20,000 Note Payable (Long-term) Capital 25,000 Withdrawals 10,000 Repair service revenue 100,000 60,000 Wares expense Rent expense 24,000 7,500 4,000 Depreciation expense Office supplies expense Advertising expense Insurance expense Total 5,000 3,600 S 183,000 S 183,000 Required: Based on the adjusted account balances listed above, complete the following: 1 Journalize Closing Entries 2 Post The Closing Entries to the T-Accounts 3 Prepare The Post-Close Trial Balance Remember: All adjustments have already been made, and financial statements were already prepared by someone else. STEP 10: JOURNALIZE CLOSING ENTRIES Account Name Debit Date Credit Credit $
STEP LE PREPARE ATED TRIAL BALANCE Rehearse Pro POST-CLOSE Trial Balance Prience. Account Name Baka