Question

Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) [The following information applies to the questions displayed below) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018 The accounts have normal debit or credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries and Wages Expense Sales Revenue Supplies $ 39,600 67,000 22,000 80,800 95,300 91,200 10,550 1,550 6,350 164,700 99,850 129,200 322 200 35,700

Answer 1

Solution Trial Balance in the books of Rollcom Inc As at September 20, 2018 Particulars Debit Credit Accounts payable $ 39,600 Accounts receivable $ 67,000 Accumulated depreciation $ 22,000 cash $ 80,800 Common stock $ 95,300 Equipment $ 91,200 Income tax expense $ 10.550 Notes payable (Long term) 1,550 Office expense $ 6.350 Rent expense $ 164,700 Retained earnings $ 99,850 Salaries and wages expense $ 129,200 Sales revenue $ 327,200 Supplies $ 35.700 Total $ 585,500 $ 585,500