Question

Adjusted Trial Balance Account Titles Debit Credit Cash $3,740 Accounts Receivable 3,960 Supplies 440 Accounts Payable...

Adjusted Trial Balance

Account Titles

Debit

Credit

Cash $3,740
Accounts Receivable 3,960
Supplies 440
Accounts Payable $1,900
Unearned Service Revenue 140
Common Stock 4,100
Retained Earnings 1,070
Dividends 700
Service Revenue 4,250
Salaries and Wages Expense 1,300
Miscellaneous Expense 220
Supplies Expense 1,800
Salaries and Wages Payable 700
$12,160 $12,160
Prepare closing entries at June 30, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit

June 30

(To close revenue account)

June 30

(To close expense accounts)

June 30

(To close net income / (loss))

June 30

(To close dividends)

SHOW LIST OF ACCOUNTS

Prepare a post-closing trial balance.
Blue Spruce Company
Post-Closing Trial Balance

For the Month Ended June 30, 2020June 30, 2020For the Quarter Ended June 30, 2020

Debit

Credit

$ $
    Totals $ $
0 0
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Answer #1
Req 1 Accounts Title and Explanation Debit Credit
Jun-30 Service Revenue                      4,250
     Income Summary                      4,250
(To record closing of credit balance account)
Jun-30 Income Summary                      3,320
Salary and Wage Expense                      1,300
Mis. Expense                         220
Supplies Expense                      1,800
(To record closing of debit balance account)
Jun-30 Retained Earning                         930
     Income Summary                         930
(To close income summary account)
Jun-30 Retained Earning                         700
     Dividends                         700
(To close dividend account)
Req 2 Account Titles Debit Credit
Cash $3,740
Accounts Receivable 3,960
Supplies 440
Accounts Payable $1,900
Unearned Service Revenue 140
Common Stock 4,100
Retained Earnings 1,300
Salaries and Wages Payable 700
Total $8,140 $8,140
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