Prepare closing entries at june 30

Assignment Help Financial Accounting
Reference no: EM13522079

Willow Turenne Company had the following adjusted trial balance.


Adjusted Trial Balance

Account Titles

Debits

Credits

Cash

$ 3,712


Accounts Receivable

3,904


Supplies

480


Accounts Payable


$ 1,556

Unearned Service Revenue


160

Owner's Capital


5,760

Owner's Drawings

628


Service Revenue


4,300

Salaries and Wages Expense

1,344


Miscellaneous Expense

256


Supplies Expense

1,900


Salaries and Wages Payable


448


$12,224

$12,224

Instructions

(a) Prepare closing entries at June 30, 2012.

(b) Prepare a post-closing trial balance.

Reference no: EM13522079

Questions Cloud

Explain An unknown metal m was completely burned in o2 : A 4.000 g sample of an unknown metal, M, was completely burned in excess O2 to yield 0.02225 mol of the metal oxide, M2O3. What is the metal?
Enter trial balance on a worksheet and complete worksheet : Operating expenses incurred on account, but not yet recorded, total $1,500 - Enter the trial balance on a worksheet and complete the worksheet.
Explain cu is added to a solution acidic nitrate ion : Consider the experiment where Cu is added to a solution acidic nitrate ion (look for a half reaction with nitrate). In the balanced equation, what is the coefficient in front of Cu
Determine the average power delivered to the resistor : A series ac circuit contains a 270-\;{\rm{ }}\Omega resistor, a 10.0-\;{\rm mH} inductor, What is the average power delivered to the resistor, to the capacitor, and to the inductor
Prepare closing entries at june 30 : Prepare closing entries at June 30, 2012 and prepare a post-closing trial balance - Willow Turenne Company had the following adjusted trial balance.
Explain the enthalpy of formation per mole of product : Calculate the change in internal energy, (Delta E) for the reaction. What is the enthalpy of formation per mole of product for the reaction
Find the position and height of the final image : A 1.00-cm-high object is placed 4.70 cm to the left of a converging lens of focal length 7.60 cm. Find the position and height of the final image
Prepare a classified balance sheet and liquidity of company : Prepare a classified balance sheet; assume that $22,000 of the note payable will be paid in 2013 - comment on the liquidity of the company.
Evaluate the heat of reaction for the combustion of a mole : When 4.00 g of methylhydrazine is combusted in a bomb calorimeter, the temperature of the calorimeter increases from 25 C to 39.5 C. The heat capacity of the calorimeter is measured to be 7.794 kJ/C. Calculate the heat of reaction for the combusti..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Define financial statement construction via ratios

Financial statement construction via ratios. Incomplete financial statements of Lock Box, Inc., are presented below.

  Show the statement of cash flows

How should this transaction be reported on the statement of cash flows

  What accounts payable balance appears in the general ledger

Determine the balances that appear in the accounts payable subsidiary ledger. What Accounts Payable balance appears in the general ledger at the end of January?

  Illustrate what are associated with using average cost

Illustrate what problems are associated with using the average cost per unit as a performance measure? What problems are associated with using the variable cost per unit as a performance measure?

  Unix programs

Compiling, linking, and executing program - cc, vi, cat, running program

  Illustrate how do you account for this item

if there is no stated par value, such as "no par" or "stated value of zero par," then do you still need to have the account of "additional paid-in capital in excess of par"? If not, Illustrate how do you account for this item, or do you?

  Legal issues and develop solutions for those issues

Discuss the impact of technology on business and effective communication techniques and recognize situations that present potential ethical and legal issues and develop solutions for those issues.

  Discuss the policy tradeoffs

Representation of assets at FMV is  it Right and Discuss the policy tradeoffs involved in deciding whether to use historical cost or fair market value to value assets on the balance sheet.

  Evaluate the amount of net loss

Evaluate the amount of net loss that Jones can report on its income statement for the year

  Compute the predetermined overhead rate under current method

Compute the predetermined overhead rate under the current method, and determine the unit product cost of each product for the current year.

  Determine the contribution margin

What are the expected rates of reimbursement for this time frame for each payer

  The following information was provided by the treasurer of

the following information was provided by the treasurer of suretthe following information was provided by the treasurer

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd