Reference no: EM132483934
Question - MY Autobody's adjusted trial balance on December 31, 2020, appears in the work sheet as follows:
No. Account Debit Credit
Cash $28,800
Shop supplies 2,200
Prepaid insurance 5,000
Equipment 92,000
Accumulated depreciation, equipment $8,300
Accounts payable 19,800
Wages payable 9,660
Mike Yang, capital 148,000
Mike Yang, withdrawals 40,000
Repair revenue 164,830
Depreciation expense, equipment 9,300
Wages expense 105,300
Insurance expense 2,300
Rent expense 56,350
Office supplies expense 5,600
Utilities expense 3,740
Totals $350,590 $350,590
Required -
1. Prepare closing entries.
2. Prepare the post-closing trial balance at December 31, 2020.
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: MY Autobody's adjusted trial balance on December 31, 2020, appears in the work sheet as follows: Cash $28,800. Prepare post-closing trial balance at December
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