omework Chapter 4 Homework core0 of 1 pt 20121 complete HW

omework: Chapter 4 Homework core:0 of 1 pt | 2012(1 complete) ? HW Score: 43 94%, o E4-24 (similar to Question H Christine Eliot, CPA, had the following partial worksheot EE (Click the on to view the partal worksheet) Requirements . Complete the worksheel 2. Prepare the closing entries for Christine Elliot, CPA Requirement 1. Complete the worksheet Complote the worksheet by preparing the Income Stabement and Balance Shoel columns. Be sure to calculale the total debits and aredits in each step Christine Elliot, CPA Worksheet December 31, 2018 Trial Balance Statement Enter any number in the edk fields and then click Check Answer Check Anawer Type here to search 2 5 6

Solution

Worksheet Adjusted Trial Balance Income Statement Debit Credit Debit Credit Cash 47100 Accounts receivable 11800 office supplies 800 Prepaid rent 8900 Land 30000 Building 115000 Accumulated dep 1350 Furniture 24000 Accumulated dep 1500 Accounts payable 4500 Utilitie payable 575 Salaries payable 4100 Interest payable 700 Unearned revenue 5900 Notes payable 24000 Elliot Capital 228225 Elliot Withdrawals 35000 Service revenue 102200 102200 Rent expense 33100 33100 Salaries expense\' 40100 40100 Supplies expense\' 700 700 Utilities expens 23000 23000 Dep-Building 1350 1350 Dep-Furniture 1500 1500 Interest expense 700 700 Total 373050 373050 100450 102200 Net Income 1750 Total 102200 102200 Closing entries: Accounts title and explanations Debit $ Credit $ Service revenue Account Dr. 102200     Income Summary 102200 Income Summary Account Dr. 100450    Rent expense 33100    Salaries expense\' 40100    Supplies expense\' 700    Utilities expens 23000    Dep-Building 1350    Dep-Furniture 1500    Interest expense 700 Income Summary Account Dr. 1750 Elliot capital 1750 Elliot capital Account Dr. 35000       Elliot Withdrawals Account 35000