subject
Business, 21.03.2020 03:02 Dweath50

Edwards Corporation operates hair salons under various brand names. The following is a simplified list of accounts and amounts (in millions) reported in the company’s accounts for the year ended June 30, 2016.

Accounts Payable $68
Accounts Receivable 57
Accumulated Amortization 38
Accumulated Depreciation—Equipment 77
Amortization Expense 19
Cash 198
Common Stock 380
Depreciation Expense 73
Equipment 680
Income Tax Expense 19
Interest Expense 38
Inventories 148
Note Payable (long-term) 154
Note Payable (short-term) 118
Office Expenses 190
Prepaid Rent 72
Rent Expense 320
Retained Earnings 620
Salaries and Wages Expense 520
Salaries and Wages Payable 158
Service Revenue 1,580
Software 730
Supplies Expense 129

Required:
1. Prepare an adjusted trial balance at June 30, 2016.
2. Prepare the closing entry required at June 30, 2016. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
3. Prepare a post-closing trial balance at June 30, 2016.

ansver
Answers: 1

Other questions on the subject: Business

image
Business, 21.06.2019 13:30, jaidencoolman7072
There are about 6.8 billion people in the world, and about 11.4 billion usable hectares. currently, the population of the united states has an ecological footprint of about 9.0 hectares per person. if all people in the world were to live at the level of consumption found in the united states, the population of the world would have to in order to support them.
Answers: 1
image
Business, 22.06.2019 16:10, safiyyahrahman6907
From what part of income should someone take savings?
Answers: 2
image
Business, 22.06.2019 19:50, alexdziob01
Right medical introduced a new implant that carries a five-year warranty against manufacturer’s defects. based on industry experience with similar product introductions, warranty costs are expected to approximate 2% of sales. sales were $8 million and actual warranty expenditures were $42,750 for the first year of selling the product. what amount (if any) should right report as a liability at the end of the year?
Answers: 2
image
Business, 22.06.2019 23:30, bellamyciana
Part 1: interview at least three different people you know that fall within three age ranges (25-35), (36-50), and (51-70) year of age. ask each person you interview if they have life insurance (term, whole life etc.) and health insurance. ask what factors influenced their decision to buy or not the insurance coverage? report your findings to this assignment. specify who the people were that you spoke with.\
Answers: 3
You know the right answer?
Edwards Corporation operates hair salons under various brand names. The following is a simplified li...

Questions in other subjects:

Konu
Mathematics, 03.06.2021 17:40
Konu
Spanish, 03.06.2021 17:40
Konu
Biology, 03.06.2021 17:40