Focus Consulting has journalized their adjusting entries and prepared their adjusted trial balance. Using the...
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Focus Consulting has journalized their adjusting entries and prepared their adjusted trial balance. Using the adjusted trial balance, prepare the closing entries using the income summary account for the month of April and create the postclosing trial balance. Focus Consulting Adjusted Trial Balance April Account Titles DR CR Cash $ Accounts Receivable $ Prepaid Insurance $ Equipment $ Accumulated Depreciation $ Accounts Payable $ Interest Payable $ Unearned Revenue $ Bank Loan $ Nathaniel, Capital $ Nathaniel, Withdrawals $ Service Revenue $ Depreciation Expense $ Insurance Expense $ Interest Expense $ Office Supplies Expense $ Rent Expense $ Telephone Expense $ Total $ $ Do not enter dollar signs or commas in the input boxes. When closing accounts, use the income summary method. For the closing of the expense accounts, enter the expense accounts in alphabetical order. Date Account Title and Explanation Debit Credit Apr Answer Answer Answer Answer Close revenue accounts Apr Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Close expense accounts Apr Answer Answer Answer Answer Close income summary account Apr Answer Answer Answer Answer Close owner's drawings
Focus Consulting has journalized their adjusting entries and prepared their adjusted trial balance. Using the adjusted trial balance, prepare the closing entries using the income summary account for the month of April and create the postclosing trial balance.
Focus Consulting
Adjusted Trial Balance
April
Account Titles DR CR
Cash $
Accounts Receivable $
Prepaid Insurance $
Equipment $
Accumulated Depreciation $
Accounts Payable $
Interest Payable $
Unearned Revenue $
Bank Loan $
Nathaniel, Capital $
Nathaniel, Withdrawals $
Service Revenue $
Depreciation Expense $
Insurance Expense $
Interest Expense $
Office Supplies Expense $
Rent Expense $
Telephone Expense $
Total $ $
Do not enter dollar signs or commas in the input boxes.
When closing accounts, use the income summary method.
For the closing of the expense accounts, enter the expense accounts in alphabetical order.
Date Account Title and Explanation Debit Credit
Apr Answer
Answer
Answer
Answer
Close revenue accounts
Apr Answer
Answer
Answer
Answer
Answer
Answer
Answer
Answer
Answer
Answer
Answer
Answer
Answer
Answer
Close expense accounts
Apr Answer
Answer
Answer
Answer
Close income summary account
Apr Answer
Answer
Answer
Answer
Close owner's drawings
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