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Record balances as of december in the ledger accounts

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A Journalizing and posting adjusting and closing entries and preparing a postclosing trial balance.

Problem 1: Record balances as of December 31, 2019, in the ledger accounts.

Problem 2: Journalize and post the adjusting entries. Use account number 131 for Prepaid Advertising and the same account numbers for all other accounts shown in Mini-Practice Set 1 for Eli's Consulting Services chart of accounts.

Problem 3: Journalize and post the closing entries.

Problem 4: Prepare a postclosing trial balance.

Reference no: EM132820910

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