Question

hent CALCULATOR PRINTER VERSION Question 10 Flint Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown belo Flint Company Adjusted Trial Balance July 31, 2019 No. Account Titles Debit Credit 101 Cash $9,850 112 Accounts Receivable 8,500 157 Equipment 15,800 158 Accumulated Depreciation-Equip. $7,300 201 Accounts Payable 4,700 Unearned Rent Revenue 2,500 311 Common Stock 19,050 320 Retained Earnings 26,000 332 Dividends 15,500 400 Service Revenue 63,000 429 Rent Revenue 6,000 711 Depreciation Expense 7,500 726 Salaries and Wages Expense 56,400 732 Utilities Expense 15,000 $128,550 $128,550 208

Answer 1

Date Debit Credit July 31 July 31 July 31 Retained Earnings Explanation Ref. Balance J15 Close Net Income/Loss J15 Close Dividends J15 No. 320 Balance 26,000 16,100 600 $ $ $ $ $ 9,900 15,500 Debit Date July 31 July 31 July 31 Income Summary Explanation Ref. Close Revenues J15 Close Expenses J15 Close Net Income/Loss J15 $ No. 350 Balance 69,000 9,900 - Credit 69,000$ $ 9,900 $ 78,900 $