Exercise Account (7)

Prévia do material em texto

4-68
PROBLEM 4-3B (Continued)
(c)
Ann Molinda, Capital No. 301
12/31 14,000 1/1 Bal. 36,000
 12/31 23,500
 12/31 Bal. 45,500
Ann Molinda, Drawing No. 306
12/31 Bal. 14,000 12/31 14,000
Income Summary No. 350
12/31 45,500 12/31 69,000
12/31 23,500 
69,000 69,000
Service Revenue No. 400
12/31 69,000 12/31 Bal. 69,000
Repair Expense No. 622
12/31 Bal. 2,000 12/31 2,000
Depreciation Expense No. 711
12/31 Bal. 2,600 12/31 2,600
Insurance Expense No. 722
12/31 Bal. 2,200 12/31 2,200
Salaries Expense No. 726
12/31 Bal. 37,000 12/31 37,000
Utilities Expense No. 732
12/31 Bal. 1,700 12/31 1,700
(d) MOLINDA COMPANY
Post-Closing Trial Balance
December 31, 2008
 
Debit Credit
Cash ................................................................................ $22,400
Accounts Receivable................................................. 13,500
Prepaid Insurance....................................................... 3,500
Equipment ..................................................................... 26,000
Accumulated Depreciation ...................................... $ 5,600
Accounts Payable....................................................... 11,300
Salaries Payable.......................................................... 3,000
Ann Molinda, Capital.................................................. 45,500
Totals $65,400 $65,400