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Ppt 4 acct 1 P247 Using the account information in the following adjusted trial balance for...

Ppt 4 acct 1

P247


Using the account information in the following adjusted trial balance for Melodies piano school:



  1. Prepare the closing entries for December 31, 2017

  2. Post the closing entries

  3. 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


Solutions

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