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Exercise 4-10 (40 minutes)

Salon Marketing Company Work Sheet
		Adjusted Trial Balance		Closing Entry Information				Post-Closing Trial Balance
No.	Account Title	Dr.	Cr.	Dr.		Cr.		Dr.	Cr.
101	Cash................................	9,200						9,200
106	Accounts receivable......	25,000						25,000
153	Equipment......................	42,000						42,000
154	Accumulated depre- ciationEquipment.....		17,500						17,500
183	Land................................	31,000						31,000
201	Accounts payable..........		15,000						15,000
209	Salaries payable............		4,200						4,200
233	Unearned fees................		3,600						3,600
301	E. Salon, Capital............		68,500	(4)	15,400	(3)	13,800		66,900
302	E. Salon, Withdrawals...	15,400				(4)	15,400
401	Marketing fees earned..		80,000	(1)	80,000
611	Depreciation expense Equipment....................	12,000				(2)	12,000
622	Salaries expense...........	32,500				(2)	32,500
640	Rent expense.................	13,000				(2)	13,000
677	Miscellaneous expense	8,700				(2)	8,700
901	Income summary...........			(2)	66,200	(1)	80,000
		______	______	(3)	13,800		______	______	______
	Totals..............................	188,800	188,800		175,400		175,400	107,200	107,200

explain please!

Exercise 4-10 Preparing closing entries and a post-closing trial balance P2 P3 The adjusted trial balance for Salon Marketing Co. follows. Complete the four right-most columns of the table by first entering information for the four closing entries (keyed 1 through 4) and second by completing the post-closing trial balance Adjusted Trial Balance Closing Entry Information Post-Closin No. Account Title Trial Balanc 101 Cash 106 Accounts receivable 153 154 Accumulated depreciation-Equipment 183 Land 201 Accounts payable 209 Salaries payable 233 Unearned fees 301 E. Salon, Capital 302 E. Salon, Withdrawals 401 Marketing fees earned 611 Depreciation expense-Equipment 622 Salaries expense 640 Rent expense 677 Miscellaneous expenses 901 Income summary S 9,200 25.000 42,000 Equipment 17,500 31,000 15,000 4,200 3.600 68,500 15,400 80,000 12,000 32,500 13,000 8,700 Totals $188,800 $188,800

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