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journalizing and posting adjusting and closing entries with a net loss; preparing a...
journalizing and posting adjusting and closing entries with a net loss; preparing a post closing trial balance,rolstad repair service's partial work sheet for the month ended october 31 of the current year is given below. the general ledger accounts are given in the working papers. the general ledger accounts do not show all details for the fiscal period. the balance shown in each account is the account's balance before adjusting and closing entries are posted. cash debit on the balance sheet-$6,958.00,petty cash debit -$150.00. accts.rec.-m.hollerud-$197.00,supplies-$780.00, prepaid insurance-$800.00, ron rolstad-drawing-$600.00, debit column totals-$9,485.00, net loss debit column -$464.00,total for debit column on balance sheet is -$9,949.00, the credit column on the balance sheet -accts.pay-tampa supply-$612.00, ron rolstad-capital-$9,337.00,total for credit balance sheet is -$9,949.00, the adjustments debits-insurance expense-$157.00,supplies expense-$1,400.00, total for the adjustment debit column is $1,557.00, adjustments credits-supplies-$1,400.00, prepaid insurance-$157.00, total for credit column is $1,557.00, the income statement debits-advertising expense-$450.00, insurance expense-$157.00, miscellaneous expense-$1,400.00, utilities expense-$1,641.00,total for the income statement debits is $3,733.00, income statement credit, sales-$3,269.00,total for income statement credit is-$3,269.00, net loss is $464.00, the total for the income statement credits is-$3,733.00. journalize and post the adjusting entries.prepare a post closing trial balance.
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