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Home Q & A Board Other Fields Homework Help Business Accounting
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Harrison Harrison
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6 years ago
The trial balance for RC Stables Ltd. at December 31, 2013, is shown below; prepare the closing entries for 2013.
   RC Stables Ltd.
   Trial Balance
   For the Year Ended December 31, 2013
   Debit   Credit
Cash   $31,400
Accounts receivable   1,500
Prepaid insurance   2,750
Prepaid rent   4,250
Supplies   3,330
Equipment   17,500
Accumulated depreciation-equipment      $5,200
Furniture   25,000
Accumulated depreciation-furniture      4,250
Accounts payable      8,400
Salary payable       10,400
Unearned revenue      8,500
Common shares      41,767
Retained earnings      16,800
Dividends   5,000
Stable Revenue      33,500
Salary expense    24,387
Depreciation expense-equipment   1,200
Depreciation expense-furniture    3,300
Rent expense   5,500
Insurance expense   2,200
Supplies expense   700
Advertising expense   800   ________
   $128,817   $128,817
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
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