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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

Expert Solution

ekkarill92 answered 1 year ago
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