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Make a Post-Closing Trial Balance Accounts Payable- 88,851 Accounts Receivable- 442,120 Accumulated Depreciation- Building- 1,265 Accumulated...

Make a Post-Closing Trial Balance

Accounts Payable- 88,851

Accounts Receivable- 442,120

Accumulated Depreciation- Building- 1,265

Accumulated Depreciation- Equipment- 9,900

Allowance for Doubtful Accounts- 75,000

Allowance to Reduce Inventory to NRV- 16,000

Bonds Payable- 700,000

Building- 75,000

Cash- 834,544

Common Stock- 135,000

Cost of Goods Sold- 107,000

Equipment- 21,600

Income Taxes Payable- 37,221

Interest Payable- 35,000

Inventory- 70,000

Land- 88,000

Loss on Inventory- 16,000

Paid in Capital- Treasury Stock- 6,000

Patent- 45,000

PIC in Excess of Par- Common Stock- 130,000

Premium on Bonds Payable- 52,045

Prepaid Insurance- 4,500

Purchases- 177,000

Retained Earnings- 313,982

Unearned Rent Revenue- 9,000

Wages Payable- 4,000

Business   Accounting   
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Answer #1
Debit Credit
Account Payable 88851
Account receivables 442120
Accumulated Depreciation - Building 1265
Accumulated Depreciation - Equipments 9900
Allowance for doubtful accounts 75000
Allowance to reduce inventory 16000
Bonds Payable 700000
Building 75000
Cash 834544
Common Stock 135000
Equipment 21600
Income tax Payable 37221
Interest Payable 35000
Inventory 54000
Land 88000
Paid in capital - Trasury stock 6000
Patent 45000
PIC in excess of Par - Common Stock 130000
Premium on Bond Payable 52045
Prepaid Insurance 4500
Unearned rent revenue 9000
Wages Payable 4000
Suspense 36500
Retained earning 313982
1607264 1607264
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