The adjusted trial balance shown below is for Miller Real Estate at the end of...

50.1K

Verified Solution

Question

Accounting

The adjusted trial balance shown below is for Miller Real Estate at the end of its reporting period 30 June 2021.

Debit $

Credit $

100-Cash at bank

20800

101-Accounts receivable

18800

102-Office supplies

1400

103-Prepaid insurance

5000

104-Office equipment

28000

105-Accumulated depreciationoffice equipment

9600

200-Accounts payable

11600

201-Salaries payable

2200

202-Rent revenue received in advance

1400

300-Miller, Capital

32400

301-Miller, Drawings

1200

400-Service revenue

92800

500-Salaries expense

36200

501-Office supplies expense

3200

502-Rent expense

30000

503-Insurance expense

3000

504-Depreciation expenseoffice equipment

2400

150000

150000

Required

a) The closing entries of the following journal is incomplete. You are required to select the missing entries and narrations from the drop-down list to complete the closing entries of Miller Real Estate for the year ended 30 June 2021. The entries must follow the chart of accounts reference number order where appropriate. The amounts must be typed in the space provided. DO NOT type the dollar sign ($). DO NOT use thousands separators (i.e. commas: eg: 2,000; space: eg: 2 000; or full stop: eg: 2.000) when typing the amounts. NO decimals. (13 Marks)

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