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In: Accounting

The trial balance of Large Company, Inc. at the end of its annual accounting period is...

The trial balance of Large Company, Inc. at the end of its annual accounting period is as follows:

LARGE COMPANY, INC.

Trial Balance

December 31, 2017

Cash.......................................................................

$ 6,000

Prepaid Insurance.................................................

1,600

Supplies ...............................................................

2,100

Equipment ............................................................

20,000

Accumulated Depreciation—Equipment..............

$ 2,000

Retained Earnings ...............................................

19,000

...............................................................................

Revenue.................................................................

33,000

Salaries Expense...................................................

18,300

Rent Expense .......................................................

   6,000

______

Totals.....................................................................

$54,000

$54,000

Additional information:

  1. Expired insurance, $600.
  2. Unused supplies, per inventory, $800.
  3. Estimated depreciation, $1,000.
  4. Earned but unpaid salaries, $700

Required

  1. Prepare adjusting entries.
  2. Prepare adjusted Trial Balance
  3. Prepare an Income Statement
  4. Prepare a Retained Earnings Statement
  5. Prepare closing entries.

Prepare a post-closing trial balance

Solutions

Expert Solution

hey learner! if you have any doubt regarding this answer, feel free to ask me.

this is the answers of all the six parts given in the question

ekkarill92 answered 1 year ago
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