Green Lawns, Inc., performs adjusting entries every month, butcloses its accounts only at year-end . The companyAc€?csyear-end adjusted trial balance dated December 31, 2015,was: GREEN LAWNS, INC....

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Green Lawns, Inc., performs adjusting entries every month, but closes its accounts
only at year-end. The companyAc€?cs year-end
adjusted trial balance
dated December 31, 2015, was:

GREEN LAWNS, INC.

Adjusted Trial Balance

December 31, 2015

Cash

182,200

Accounts receivable

9,000

Supplies

600

Equipment

24,000

Accumulated depreciation: equipment

10,000

Accounts payable

3,000

Income taxes payable

7,000

Capital stock

50,000

Retained earnings

90,000

Dividends

4,000

Lawn care revenue earned

192,000

Salary expense

104,000

Supply expense

2,400

Advertising expense

600

Depreciation expense: equipment

2,000

Income taxes expense

23,200

352,000

Prepare all necessary closing entries at December 31, 2015.

b.	Prepare an after-closing trial balance dated December 31, 2015.

Answered Same DayDec 25, 2021

Answer To: Green Lawns, Inc., performs adjusting entries every month, butcloses its accounts only at year-end...

Robert answered on Dec 25 2021

119 Votes

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Green Lawns, Inc., performs adjusting entries every month, butcloses its accounts only at year-end . The companyAc€?csyear-end adjusted trial balance dated December 31, 2015,was: GREEN LAWNS, INC....

Answer To: Green Lawns, Inc., performs adjusting entries every month, butcloses its accounts only at year-end...

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