Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the december 31,2024, adjusted trial balance for b

The December 31,2024, adjusted trial balance for Badger Corporation is presented below. ...

80.2K

Verified Solution

Question

Accounting

The December 31,2024, adjusted trial balance for Badger Corporation is presented below.
Accounts Debit Credit
Cash $17,000
Accounts Receivable 170,000
Prepaid Rent 5,000
Supplies 34,000
Land 285,000
Accounts Payable $16,000
Salaries Payable 15,000
Interest Payable 7,000
Notes Payable (due in two years)44,000
Common Stock 320,000
Retained Earnings 68,000
Service Revenue 520,000
Salaries Expense 404,000
Rent Expense 24,000
Utilities Expense 44,000
Interest Expense 7,000
Totals $990,000 $990,000
Required:
1. Record the necessary closing entries at December 31,2024.
2. Prepare a post-closing trial balance.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

1.Calculate the pH of a 0.075 M soultion of hydrazoic acid, which is a weak acid....

Chemistry
Q

A woman complains of severe weakness and heart palpitations, after a night of vomiting and diarrhea...

Medical Sciences
Q

1. Explain how an understanding of the 4 classes of materials and their general properties aid...

Mechanical Engineering
Q

Alpha particles beamed at thin metal foil may 1 pass directly through without changing direction...

Biology
Q

When a metal is irradiated by monochromatic light the maximum kinetic energy of the photo...

Physics
Q

25 In the given circuit all resistors are of R ohm each If a wire...

Physics
Q

17 Water falls from a height 500 m What is the rise in temperature of...

Physics
Q

A rotating table completes one rotation in 10 sec and its moment of inertia is...

Physics
Q

3 Evaluate fff xyz dV where T is the tetrahedron with vertices 0 0 0...

Calculus
Q

Q5 Find the average rate of change over the interval 0 x 1 g x...

Algebra
Q

4) Baker is single and earned $350,000 of salary as an employee in 2022. How...

Accounting
Q

Game World, Inc. has the following information available for October 2020. Unit selling price of...

Accounting