37) Complete the chart below by putting an "X" in the appropriate box: Account Closed with a debit Closed with a credit Not closed Notes Payable Prepaid Rent Common Stock Long-term Investment Depreciation Expense Dividends Advertising Expense Interest Revenue Rent Revenue Cost of Goods Sold Selling Expense Gain on Sale of Land Unearned Revenue Income Tax Expense 38) Christine's Cleaning Services, Inc. has the following adjusted trial balance as of March 31, 2015. Prepare a classified balance sheet as of that date. Account Debit Credit Cash $600 Short-Term Investments 1,800 Inventory 2,000 Prepaid Rent 2,900 Prepaid Insurance 1,500 Building 50,000 Accumulated Depreciation—Building $7,500 Long-Term Investments 23,000 Goodwill 20,000 Patent 7,500 Accounts Payable 6,000 Current Portion of Long-term Note Payable 2,500 Income Tax Payable 15,630 Long-term Notes Payable 8,000 Common Stock 1,650 Additional Paid-in Capital 30,000 Retained Earnings 2,520 Service Revenue 41,000 Rent Expense 1,000 Insurance Expense 2,000 Salaries Expense 1,000 Depreciation Expense—Building 1,500 _______ Totals $114,800 $114,800

37) Complete the chart below by putting an "X" in the appropriate box: Account Closed with a debit Closed with a credit Not closed Notes Payable ...

37) Complete the chart below by putting an "X" in the appropriate box:

Account	Closed with a debit	Closed with a credit	Not closed

Notes Payable
Prepaid Rent
Common Stock
Long-term Investment
Depreciation Expense
Dividends
Advertising Expense
Interest Revenue
Rent Revenue
Cost of Goods Sold
Selling Expense
Gain on Sale of Land
Unearned Revenue
Income Tax Expense

38) Christine's Cleaning Services, Inc. has the following adjusted trial balance as of March 31, 2015. Prepare a classified balance sheet as of that date.

Account	Debit	Credit
Cash	$600
Short-Term Investments	1,800
Inventory	2,000
Prepaid Rent	2,900
Prepaid Insurance	1,500
Building	50,000
Accumulated Depreciation—Building		$7,500
Long-Term Investments	23,000
Goodwill	20,000
Patent	7,500
Accounts Payable		6,000
Current Portion of Long-term Note Payable		2,500
Income Tax Payable		15,630
Long-term Notes Payable		8,000
Common Stock		1,650
Additional Paid-in Capital		30,000
Retained Earnings		2,520
Service Revenue		41,000
Rent Expense	1,000
Insurance Expense	2,000
Salaries Expense	1,000
Depreciation Expense—Building	1,500	_______
Totals	$114,800	$114,800

May 15, 2022

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37) Complete the chart below by putting an "X" in the appropriate box: Account Closed with a debit Closed with a credit Not closed Notes Payable ...

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