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 $ 40,000 67,400 22,400 81,200 95,700 91,600 10,590 1,590 6,390 165, 100 99,810 129,600 328,480 36,100 CP4-1 Part 1 Required: 1-a. Prepare an adjusted trial balance at September 30, 2018.

Answer 1

ROLLCOM, INC. Adjusted Trail Balance
Account Titles	Debit	Credit
Accounts payable		$ 40,000
Accounts Receivable	$ 67,400
Accumulated Depreciation		$ 22,400
Cash	$ 81,200
Common Stock		$ 95,700
Equipment	$ 91,600
Income tax expense	$ 10,590
Notes Payable (Long-term)		$ 1,590
Office Expenses	$ 6,390
Rent Expense	$ 165,100
Retained Earnings		$ 99,810
Salaries and Wages Expense	$ 129,600
Sales Revenue		$ 328,480
Supplies	$ 36,100
Totals	$ 587,980	$ 587,980