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ACC 290 Week 5 Apply: Connect Assignment

ACC 290 Week 5 Apply: Connect Assignment PLDZ-7604
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ACC 290 Week 5 Apply: Connect Assignment

https://plus.google.com/u/0/108200033792883877670/posts/dWT4sDYbQKM

 

ACC 290 Week 5 Apply: Connect Assignment

Complete the Week 5 Assignment in Connect.

Note: You have only 1 attempt available to complete assignments

1

On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances:  

 

 

 

 

 

101

Cash

$

30,200

 

 

111

Accounts Receivable

 

16,100

 

 

121

Supplies

 

2,300

 

 

131

Prepaid Rent

 

38,900

 

 

141

Equipment

 

47,000

 

 

142

Accumulated Depreciation—Equip.

 

1,150

 

 

202

Accounts Payable

 

6,800

 

 

301

Emilio Gonzalez, Capital (12/1/2019)

 

48,620

 

 

302

Emilio Gonzalez, Drawing

 

6,500

 

 

401

Fees Income

 

120,080

 

 

511

Advertising Expense

 

4,100

 

 

514

Depreciation Expense—Equip.

 

830

 

 

517

Rent Expense

 

2,900

 

 

519

Salaries Expense

 

21,800

 

 

523

Utilities Expense

 

6,020

 

 

 

Required:

  1. Journalize the closing entries in the general journal.
  2. Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances.

Analyze:What is the balance of the Salaries Expense account after closing entries are posted?

ACC 290 Week 5 Apply: Connect Assignment https://plus.google.com/u/0/108200033792883877670/posts/dWT4sDYbQKM ACC 290 Week 5 Apply: Connect Assignment Complete the Week 5 Assignment in Connect. Note: You have only 1 attempt available to complet
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