In: Accounting
Ppt 4 acct 1
P247
Using the account information in the following adjusted trial balance for Melodies piano school:
Prepare the closing entries for December 31, 2017
Post the closing entries
Prepare the post closing trial balance at December 31, 2017
Melodies Piano School
Adjusted Trial Balance
December 31, 2017
|
Debit |
Credit |
Cash |
$7,000 |
|
Accounts receivable |
3000 |
|
piano |
31000 |
|
Accumulated depreciation, piano |
|
$27,000 |
Salaries payable |
|
700 |
Melodie Martin , capital |
|
17200 |
Melodie Martin, withdrawals |
2300 |
|
Teaching revenue |
|
38000 |
Salaries expense |
30000 |
|
Depreciation expense, piano |
5000 |
|
Utilities expense |
4600 |
|
Totals |
$82,900 |
$82,900 |