Question

CASH       14,000 A/R         2,200 PPD RENT         6,300 INVEN         8,500 STORE SUP  &nbsp

CASH       14,000
A/R         2,200
PPD RENT         6,300
INVEN         8,500
STORE SUP         2,500
OFC SUP         1,700
STORE EQP       20,000
    A/D - STORE EQP         2,000
OFC EQP       26,000
    A/D - OFC EQP         2,600
A/P            900
SALARIES PAY            600
TAXES PAY            700
N/P         1,400
CAPITAL       30,000
W/D         5,000
SALES     191,000
SALES DISC         1,400
SALES RET         1,800
C/G/S     122,650
FRT IN         2,150
FRT OUT         1,600
ADV EXP         1,700
STORE RENT EXP         2,400
STORE SUP EXP         1,300
DEPREC EXP-ST EQP         2,000
OFC RENT EXP         1,600
OFC SUP EXP         1,800
DEPREC EXP-OFC EQP         2,600
NI 48,000, TA 76,600     229,200     229,200

This is the Adjusted Trial Balance. What goes into the post closing trial balance?

Homework Answers

Answer #1

Temporary accounts are closed and only permanent accounts appear in post closing trial balance

POST CLOSING TRIAL BALANCE

ACCOUNT TITLES DEBIT CREDIT
CASH 14000
A/R 2200
PPD RENT 6300
INVEN 8500
STORE SUP 2500
OFC SUP 1700
STORE EQP 20000
    A/D - STORE EQP 2000
OFC EQP 26000
    A/D - OFC EQP 2600
A/P 900
SALARIES PAY 600
TAXES PAY 700
N/P 1400
CAPITAL 73000
W/D
SALES
SALES DISC
SALES RET
C/G/S
FRT IN
FRT OUT
ADV EXP
STORE RENT EXP
STORE SUP EXP
DEPREC EXP-ST EQP
OFC RENT EXP
OFC SUP EXP
DEPREC EXP-OFC EQP
TOTALS 81200 81200
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