Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please answer me !!! thank youuu the followin

please answer me !!! thank youuu The following information relates...

60.1K

Verified Solution

Question

Accounting

please answer me !!! thank youuu
image
image
The following information relates to Magic Hair Salon Pty Ltd on 30 June 2021. Motor Vehicle 180,000 Prepaid Rent 18,000 Salary Expenses 96,000 Cash at Bank 130,000 Service Revenue 213.000 Depreciation expense - Motor Vehicle 18,000 Accounts receivable 17,000 Electricity Expense 9.200 Owner, Drawings 6,000 Unearned revenue 16,000 Supplies Expense 14,800 Accounts payable 13,000 Capital ? Bank Loan 23,000 Accumulated Depreciation. Motor Vehicle 80,000 Required a) Prepare the closing entries for the business. Narration is not required. (5 marks) b) Prepare the post-closing trial balance for the business. (S marks) If you accidentally delete the answer template, you may undo the deletion using "Ctrl + Z" (for Windows) or "Command + Z" (for Mac). If that does not work, please click on this link Answer Template. You may copy and paste the answer template to the answer box a. Closing Entries Date Accounts Debit Credit b. Post-closing Trial Balance Magic Hair Salon Pty Ltd Post-closing Trial Balance As at 30 June 2021

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students