Apachi Company ended its fiscal year on July 31, 2011. The company's adjusted trial balance as of the end of its fiscal year is as shown at the top of page 186.
|
APACHI COMPANY
Adjusted Trial Balance
July 31, 2011
|
|
No.
|
Account Titles
|
Debits
|
Credits
|
|
101
|
Cash
|
$ 14,840
|
|
|
112
|
Accounts Receivable
|
8,780
|
|
|
157
|
Equipment
|
15,900
|
|
|
167
|
Accumulated Depreciation
|
|
$ 7,400
|
|
201
|
Accounts Payable
|
|
4,220
|
|
208
|
Unearned Rent Revenue
|
|
1,800
|
|
311
|
Common Stock
|
|
20,000
|
|
320
|
Retained Earnings
|
|
25,200
|
|
332
|
Dividends
|
16,000
|
|
|
404
|
Commission Revenue
|
|
65,000
|
|
429
|
Rent Revenue
|
|
6,500
|
|
711
|
Depreciation Expense
|
4,000
|
|
|
720
|
Salaries Expense
|
55,700
|
|
|
732
|
Utilities Expense
|
14,900
|
|
|
|
$130,120
|
$130,120
|
Instructions
(a) Prepare the closing entries using page J15.
(b) Post to Retained Earnings and No. 350 Income Summary accounts. (Use the three-column form.)
(c) Prepare a post-closing trial balance at July 31.