Ex5.19
From the following accounts (not in order), prepare a post-closing trial balance for Winter Co. on
October 31, 201X. Note: These balances are before closing.
Accounts Receivable $19,950
P. Winter, Capital $45,300
Legal Supplies 9,700
P. Winter, Withdrawals 3,000
Office Equipment 54,400
Legal Fees Earned 28,000
Repair Expense 2,700
Accounts Payable 48,000
Salaries Expense 1,550
Cash 30,000
Adjustment Data
a. Insurance expired, $100.
b. Dance supplies on hand, $1,100.
c. Depreciation on dance equipment, $2,000.
d. Salaries earned by employees but not to be paid until October, $1,000.
Your task is to do the following:
1. Prepare a worksheet.
2. Journalize adjusting and closing entries.
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