The adjusted trial balance columns of the worksheet for Alshwer Company, owned by M. Alshwer, are as follows. ALSHWER COMPANY Worksheet For the Year Ended December 31, 2014 Adjusted Trial Balance Account No. Account Titles Dr. Cr. 101 Cash 5,101 112 Accounts Receivable 10,736 126 Supplies 1,771 130 Prepaid Insurance 2,097 151 Equipment 27,320 152 Accumulated Depreciation—Equipment 5,188 200 Notes Payable 14,900 201 Accounts Payable 6,223 212 Salaries and Wages Payable 2,425 230 Interest Payable 513 301 Owner’s Capital 13,212 306 Owner’s Drawings 7,102 400 Service Revenue 60,529 610 Advertising Expense 8,017 631 Supplies Expense 4,198 711 Depreciation Expense 5,188 722 Insurance Expense 3,140 726 Salaries and Wages Expense 27,807 905 Interest Expense 513 Totals 102,990 102,990 Warning $ $ : : $ $ : $ $ $ [removed] Warning [removed] Don't show me this message again for the assignment Ok Cancel Show List of Accounts Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 [removed] [removed] [removed] [removed] [removed] [removed] (To close revenue account.) Dec. 31 [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] (To close expense accounts.) Dec. 31 [removed] [removed] [removed] [removed] [removed] [removed] (To close net income / (loss).) Dec. 31 [removed] [removed] [removed] [removed] [removed] [removed] (To close drawings.) Warning [removed] Don't show me this message again for the assignment Ok Cancel Show List of Accounts Post the closing entries. (Post entries in the order of journal entries presented in the previous part.) Owner’s Capital No. 301 Date Explanation Ref Debit Credit Balance Jan. 31 Balance √ [removed] [removed] [removed] Dec. 31 Closing entry J14 [removed] [removed] [removed] Dec. 31 Closing entry J14 [removed] [removed] [removed] Owner’s Drawings No. 306 Date Explanation Ref Debit Credit Balance Dec. 31 Balance √ [removed] [removed] [removed] Dec. 31 Closing entry J14 [removed] [removed] [removed] Income Summary No. 350 Date Explanation Ref Debit Credit Balance Dec. 31 Closing entry J14 [removed] [removed] [removed] Dec. 31 Closing entry J14 [removed] [removed] [removed] Dec. 31 Closing entry J14 [removed] [removed] [removed] Service Revenue No. 400 Date Explanation Ref Debit Credit Balance Dec. 31 Balance √ [removed] [removed] [removed] Dec. 31 Closing entry J14 [removed] [removed] [removed] Advertising Expense No. 610 Date Explanation Ref Debit Credit Balance Dec. 31 Balance √ [removed] [removed] [r.

1. The adjusted trial balance columns of the worksheet for
Alshwer Company, owned by M. Alshwer, are as follows.
ALSHWER COMPANY
Worksheet
For the Year Ended December 31, 2014
Adjusted Trial Balance
Account No.
Account Titles
Dr.
Cr.
101
Cash
5,101
112
Accounts Receivable
10,736
126
Supplies

2. 1,771
130
Prepaid Insurance
2,097
151
Equipment
27,320
152
Accumulated Depreciation—Equipment
5,188
200
Notes Payable
14,900
201
Accounts Payable

3. 6,223
212
Salaries and Wages Payable
2,425
230
Interest Payable
513
301
Owner’s Capital
13,212
306
Owner’s Drawings
7,102
400
Service Revenue

4. 60,529
610
Advertising Expense
8,017
631
Supplies Expense
4,198
711
Depreciation Expense
5,188
722
Insurance Expense
3,140
726
Salaries and Wages Expense
27,807

5. 905
Interest Expense
513
Totals
102,990
102,990
Warning
$
$
:
:

6. $
$
:
$

7. $
$
[removed]
Warning
[removed] Don't show me this message again for the assignment
Ok
Cancel
Show List of Accounts
Prepare the closing entries.

8. (Credit account titles are automatically indented when amount
is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Dec. 31
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
(To close revenue account.)
Dec. 31
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]

9. [removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
(To close expense accounts.)
Dec. 31
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
(To close net income / (loss).)
Dec. 31
[removed]
[removed]
[removed]
[removed]
[removed]
[removed]
(To close drawings.)

10. Warning
[removed] Don't show me this message again for the assignment
Ok
Cancel
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Post the closing entries.
(Post entries in the order of journal entries presented in the
previous part.)
Owner’s Capital
No. 301
Date
Explanation
Ref
Debit
Credit
Balance
Jan. 31
Balance
√
[removed]
[removed]
[removed]
Dec. 31
Closing entry
J14
[removed]
[removed]
[removed]
Dec. 31

11. Closing entry
J14
[removed]
[removed]
[removed]
Owner’s Drawings
No. 306
Date
Explanation
Ref
Debit
Credit
Balance
Dec. 31
Balance
√
[removed]
[removed]
[removed]
Dec. 31
Closing entry
J14
[removed]
[removed]
[removed]

12. Income Summary
No. 350
Date
Explanation
Ref
Debit
Credit
Balance
Dec. 31
Closing entry
J14
[removed]
[removed]
[removed]
Dec. 31
Closing entry
J14
[removed]
[removed]
[removed]
Dec. 31
Closing entry
J14
[removed]
[removed]
[removed]

13. Service Revenue
No. 400
Date
Explanation
Ref
Debit
Credit
Balance
Dec. 31
Balance
√
[removed]
[removed]
[removed]
Dec. 31
Closing entry
J14
[removed]
[removed]
[removed]
Advertising Expense

14. No. 610
Date
Explanation
Ref
Debit
Credit
Balance
Dec. 31
Balance
√
[removed]
[removed]
[removed]
Dec. 31
Closing entry
J14
[removed]
[removed]
[removed]
Supplies Expense
No. 631
Date
Explanation
Ref
Debit
Credit
Balance

15. Dec. 31
Balance
√
[removed]
[removed]
[removed]
Dec. 31
Closing entry
J14
[removed]
[removed]
[removed]
Depreciation Expense
No. 711
Date
Explanation
Ref
Debit
Credit
Balance
Dec. 31
Balance
√
[removed]
[removed]
[removed]
Dec. 31

16. Closing entry
J14
[removed]
[removed]
[removed]
Insurance Expense
No. 722
Date
Explanation
Ref
Debit
Credit
Balance
Dec. 31
Balance
√
[removed]
[removed]
[removed]
Dec. 31
Closing entry
J14
[removed]
[removed]
[removed]

17. Salaries and Wages Expense
No. 726
Date
Explanation
Ref
Debit
Credit
Balance
Dec. 31
Balance
√
[removed]
[removed]
[removed]
Dec. 31
Closing entry
J14
[removed]
[removed]
[removed]
Interest Expense

18. No. 905
Date
Explanation
Ref
Debit
Credit
Balance
Dec. 31
Balance
√
[removed]
[removed]
[removed]
Dec. 31
Closing entry
J14
[removed]
[removed]
[removed]
Warning
[removed] Don't show me this message again for the assignment
Ok
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Show List of Accounts
Prepare a post-closing trial balance.
ALSHWER COMPANY
Post-Closing Trial Balance
December 31, 2014
Debit
Credit
[removed]
$

19. [removed]
$
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[removed]
[removed]
Totals
$
[removed]

20. $
[removed]
Warning
[removed] Don't show me this message again for the assignment
Ok
Cancel
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