Question

Adjusted Trial Balance Debit LISO Cash CO 2 500 Accounts Receivable Supplies Equipment Accum Dep - Equip Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Dividends Service Revenue Salaries/Wages Expense Suppliess Expense Depreciation Expense Miscellaneous Expense 290 250 HOU Totals E. Post Closing Trial Balance Debit Credit Cash Accounts Receivable Supplies Equipment Accum Dep - Equip

how come I am not getting the same total?

Answer 1

Few adjusting and closing entries not posted properly. Do check again as below:

T Accounts Date Item Post Ref Debit Credit Balance Cash 31-Mar Balance $ 4,500 $ 4,500 Supplies 31-Mar Balance $ 2,000 31-Mar Adjusting 12 $ 1,450 $ 550 Accumulated Depreciation-Equipment 31-Mar Balance ✓ $ 1,250 31-Mar Adjusting J2 $ 250 $ 1,500 Unearned Service Revenue 31-Mar Balance ✓ $ 550 31-Mar Adjusting J2 $ 210 $ 340 Common Stock 31-Mar Balance $ 10,000 $ 10,000 $ 10,000 Dividends 31-Mar Balance $ 1,100 31-Mar Closing J3 $ 1,100 $ - Date Item Post Ref Debit Credit Balance Accounts Receivable 31-Mar Balance $ 3,200 $ 3,200 Equipment 31-Mar Balance $ 11,000 $ 11,000 Accounts Payable 31-Mar Balance $ 2,500 $ 2,500 Salaries and Wages Payable 31-Mar Balance ✓ $ - 31-Mar Adjusting J2 $ 700 $ 700 Retained Earnings 31-Mar Balance ✓ $ 2,900 31-Mar Closing 3 $ 2,410 $ 5,310 31-Mar Closing 3 $ 1,100 $ 4,210 Income Summary 31-Mar Closing J3 $ 6,510 $ 6,510 31-Mar Closing J3 $ 4,100 $ 2,410 31-Mar Closing 3 $ 2,410 $ - $ $ $ 6,300 6,510 S - Service Revenue 31-Mar Balance ✓ 31-Mar Adjusting J2 $ 210 31-Mar Closing 3 $ 6,510 Salaries and Wages Expense 31-Mar Balance ✓ 31-Mar Adjusting J2 $ 700 31-Mar Closing 3 $ 2,000 Depreciation Expense 31-Mar Balance v 31-Mar Adjusting J2 $ 250 31-Mar Closing J3 $ 250 $ $ $ 1,300 2,000 - 1,450 Supplies Expense 31-Mar Balance ✓ 31-Mar Adjusting J2 $ 1,450 31-Mar Closing 3 $ Miscellaneous Expense 31-Mar Balance ✓ 31-Mar Closing J3 $ $ 1,450 $ $ $ $ - 250 - $ $ 400 . 400

Credit Calculation Closing entries Date Account 31-Mar Service Revenue Clos. (1) Income Summary To close revenue Debit $ 6,510 $ 6,510 $ 4,100 31-Mar Income Summary Clos. (2) Salaries and Wages Expense Supplies Expense Depreciation Expense Miscellaneous Expense To close expenses $ $ $ $ 2,000 1,450 250 400 $ 2,410 =6,510-4,100 31-Mar Income Summary Clos. (3) Retained Earnings To close income summary $ 2,410 $ 1,100 31-Mar Retained Earnings Clos. (4) Dividends To close dividends $ 1,100

Company Account Names Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Totals Post Closing TB Debit Credit 4,500 3,200 550 11,000 1,500 2,500 340 700 10,000 4,210 19,250 19,250