50.1K

Verified Solution

Link Copied!

Prepare the closing entries for the temporary accounts at August 31. (If no entry is required, select "No Entry" for the accou titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do no Question 4 of 5 .115 01 (To close expense accounts) Aug. 31 (To close income / (loss)) Aug. 31 (To close dividends) Prepare the closing entries for the temporary accounts at August 31 . (If no entry is required, select "No Entry" for the occount tities and enter o for the amounts, Credit account tities are dutomatically indented when the amount is entered, Do not Indent manualty] Question 4 of 5 \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|l|}{\begin{tabular}{l} SUNLAND COMPANY \\ Trlal Balance \\ August 31,2022 \end{tabular}} \\ \hline & \multicolumn{2}{|c|}{\begin{tabular}{c} Before \\ Adjustment \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{c} After \\ Adgustment \end{tabular}} \\ \hline & Dr. & Cr. & Dr. & Cr. \\ \hline Cash + & $10,000 & & $10,000 & \\ \hline Accounts Receivable & 8.360 & & 9.110 & \\ \hline Supplies & 2,770 & & 1.010 & \\ \hline Prepaid Insurance & 4,260 & & 2760 & \\ \hline Equipment & 15,000 & & 15,000 & \\ \hline Accumulated Depreciation-Equipment & & $3,375 & & $4.575 \\ \hline Accounts Payable & & 5.650 & & 5,650 \\ \hline Salaries and Wages Payable & & 0 & & 1.560 \\ \hline Unearned Rent Revenue & & 1.940 & & 1.010 \\ \hline Common Stock & & 17,850 & & 17,850 \\ \hline Retained Earnings & & 5,860 & & 5,860 \\ \hline \end{tabular}

Answer & Explanation Solved by verified expert

See Answer