Reference no: EM132749768
Question - The adjusted trial balance for Sheridan Company is presented below.
SHERIDAN COMPANY Adjusted Trial Balance August 31, 2017
Account Titles Debit Credit
Cash $10,700
Accounts receivable 6,600
Equipment 10,000
Accumulated depreciation-equipment $5,700
Accounts payable3,800
Unearned revenue 1,100
S. Strong, capital 35,300
S. Strong, drawings 13,100
Service revenue 36,500
Rent revenue 6,900
Depreciation expense 1,700
Salaries expense 37,600
Utilities expense 9,600
DR TOTAL $89,300 CR TOTAL $89,300
Required -
1. Prepare the closing entries.
2. Prepare T accounts for the accounts affected by the closing entries. Post the closing entries. Make the T account and state if they are bal. or clos.
3. Prepare post-closing trial balance at August 31, 2017.
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