Question

Exercise 4-10 Entering data for closing entries and a post-closing trial balance LO P2, P3 The adjusted trial balance for Salon Marketing Co. follows. Complete the four right-most columns of the table by (1) entering information for the four closing entries in the middle columns and (2) completing the post-closing trial balance columns Post-Closing Trial Balance Dr. Cr. No. Account Title 101 Cash 106 Accounts receivable 153 Equipment 154 Accumulated depreciation- Equipment 183 Land 201 Accounts payable 209 Salaries payable 233 Unearned fees 301 E. Salon, Capital 302 E. Salon, Withdrawals 401 Marketing fees earned 611 Depreciation expense- Equipment 622 | Salaries expense 640 Rent expense 677 Miscellaneous expense 901 Income summary SALON MARKETING CO. Work Sheet Adjusted Trial Closing Entry Balance Information Dr. Cr. Dr. Cr. $ 14,300 25,000 42,000 S 17,500 31.000 15,000 4,200 3,600 73.490 15,400 73,400 12,000 29.213 11,157 7,120 Totals $ S 187,190 187,190 S 0 $ 0 $ 0 $ 0

Answer 1

		Adjusted Trial balance		Closing entry information		Post closing Trial balance
No.	Account title	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.
101	Cash	14300				14300
106	Accounts receivable	25000				25000
153	Equipment	42000				42000
154	Accumulated depreciation--Equipment		17500				17500
183	Land	31000				31000
201	Accounts payable		15000				15000
209	Salaries payable		4200				4200
233	Unearned fees		3600				3600
301	E. Salon, Capital		73490	15400	13910		72000
302	E. Salon, Withdrawals	15400			15400
401	Marketing fees earned		73400	73400
611	Depreciation expense-Equipment	12000			12000
622	Salaries expense	29213			29213
640	Rent expense	11157			11157
677	Miscellaneous expense	7120			7120
901	Income summary			59490	73400
				13910
	Totals	187190	187190	162200	162200	112300	112300