100% SOLVED BY A VERIFIED WRITER- Accounting Question #11

  • Chapter 3 Homework Problem #4 part 1 Assignment Prepare #11 on the homework sheet for this assignment just through the adjusted trial balance
  • Chapter 3 Homework Problem #4 part 2 Assignment Take your corrected trial balance and now do the closing entries and post closing trial balance

11.Below is the unadjusted trial balance for Xander Corporation as of December 31, 2018:

Xander Corporation

Unadjusted Trial balance

December 31, 2018




$        60,000

Accounts Receivable


Prepaid Rent


Prepaid Insurance








Accumulated Depreciation-Building

$          5,000



Accumulated Depreciation-Equipment


Accounts Payable


Unearned Revenue


Notes Payable


Common Stock


Retained Earnings




Service Revenue


Salaries Expense


Rent Expense


Utilities Expense



$     177,650

$     177,650

Data needed for adjusting entries (date for all journal entries is 12/31):

A.Salaries owed but not yet paid, $350.

B.$500 of the unearned revenue has now been earned.

C.Prepaid insurance expired, $400.

D.Interest accrued on note payable, $125.

E.Revenue earned, but unbilled, $300.

F.Supplies on hand at December 31, $600.

G.Depreciation on equipment was $2,500.

1.Prepare the adjusting journal entries for Xander Corporation.

2.Open T-accounts for all of the trial balance accounts and post the adjusting entries into the T-accounts and determine ending balances for all accounts.

HINT: Your debits & credits will each equal $180,925.

3.Prepare an adjusted trial balance. 

4.Prepare closing entries.

5.Prepare a post-closing trial balance.

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