213. The adjusted trial balance of the Thomas Company follows: THOMAS COMPANY Adjusted Trial Balance December 31 Debit Credit Cash 8,000 Prepaid insurance 2,400 Equipment 18,000 Accumulated depreciation – Equipment 3,600 Salaries payable 2,000 Unearned repair fees 1,200 Common stock 4,000 Retained earnings 7,400 Dividends 4,000 Repair fees earned 27,500 Salaries expense 10,000 Depreciation expense 1,800 Insurance expense 1,500 Totals 45,700 45,700 Prepare the closing entries for Thomas Company. 214. The items that follow appeared in the Income Statement columns of the work sheet prepared for Armstrong Delivery Service at current year-end. In addition, retained earnings had a credit balance of $117,000 and dividends had a debit balance of $30,000 at year-end. Prepare closing journal entries for this company. Income Statement Dr. Cr. Delivery revenue $98,900 Office salaries expense $28,100 Rent expense 14,400 Insurance expense 1,200 Office supplies expense 1,900 Depreciation expense—Office equipment 6,000 Totals $51,600 $98,900 Net income 47,300 Totals $98,900 $98,900 215. Presented below are the year-end balances at December 31 of Laura's Laundry Service. (All accounts have normal balances.) Accounts receivable $ 12,000 Accounts payable 25,000 Accumulated depreciation – Catering equipment 30,000 Advertising expense 4,000 Cash 42,000 Depreciation expense – Catering equipment 12,000 Insurance expense 3,000 Catering equipment 125,000 Catering service revenue 200,000 Notes payable 65,000 Common stock 3,000 Retained earnings 14,000 Dividends 18,000 Prepaid insurance 1,500 Salaries payable 4,000 Salary expense 97,000 Supplies 1,500 Supplies expense 9,000 Repair expense 7,000 Unearned catering service revenues 500 Utilities expense 9,500 a. Prepare the necessary closing entries at December 31. b. Prepare a post-closing trial balance at December 31.

213. The adjusted trial balance of the Thomas Company follows: THOMAS COMPANY Adjusted Trial Balance December 31 Debit Credit Cash 8,000 Prepaid insurance ...

213. The adjusted trial balance of the Thomas Company follows:

THOMAS COMPANY Adjusted Trial Balance December 31
	Debit	Credit
Cash	8,000
Prepaid insurance	2,400
Equipment	18,000
Accumulated depreciation – Equipment		3,600
Salaries payable		2,000
Unearned repair fees		1,200
Common stock		4,000
Retained earnings		7,400
Dividends	4,000
Repair fees earned		27,500
Salaries expense	10,000
Depreciation expense	1,800
Insurance expense	1,500
Totals	45,700	45,700

Prepare the closing entries for Thomas Company.

214. The items that follow appeared in the Income Statement columns of the work sheet prepared for Armstrong Delivery Service at current year-end. In addition, retained earnings had a credit balance of $117,000 and dividends had a debit balance of $30,000 at year-end. Prepare closing journal entries for this company.

	Income Statement
	Dr.	Cr.
Delivery revenue		$98,900
Office salaries expense	$28,100
Rent expense	14,400
Insurance expense	1,200
Office supplies expense	1,900
Depreciation expense—Office equipment	6,000
Totals	$51,600	$98,900
Net income	47,300
Totals	$98,900	$98,900

215. Presented below are the year-end balances at December 31 of Laura's Laundry Service. (All accounts have normal balances.)

Accounts receivable	$ 12,000
Accounts payable	25,000
Accumulated depreciation – Catering equipment	30,000
Advertising expense	4,000
Cash	42,000
Depreciation expense – Catering equipment	12,000
Insurance expense	3,000
Catering equipment	125,000
Catering service revenue	200,000
Notes payable	65,000
Common stock	3,000
Retained earnings	14,000
Dividends	18,000
Prepaid insurance	1,500
Salaries payable	4,000
Salary expense	97,000
Supplies	1,500
Supplies expense	9,000
Repair expense	7,000
Unearned catering service revenues	500
Utilities expense	9,500

a. Prepare the necessary closing entries at December 31.

b. Prepare a post-closing trial balance at December 31.

May 15, 2022

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213. The adjusted trial balance of the Thomas Company follows: THOMAS COMPANY Adjusted Trial Balance December 31 Debit Credit Cash 8,000 Prepaid insurance ...

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