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    Flagstaff GL After Closing

    Uploaded by

    Steven Sanderson
    The document is a general ledger for Flagstaff Service Co. showing account balances and transactions as of 12/31. It includes asset, liability, capital, revenue and expense accounts with debit and credit balances. Closing entries have been posted to transfer balances from temporary to permanent accounts.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd

    Flagstaff GL After Closing

    Uploaded by

    Steven Sanderson
    195 views6 pages
    The document is a general ledger for Flagstaff Service Co. showing account balances and transactions as of 12/31. It includes asset, liability, capital, revenue and expense accounts with debit and credit balances. Closing entries have been posted to transfer balances from temporary to permanent accounts.

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    Copy of Flagstaff GL After Closing

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    © Attribution Non-Commercial (BY-NC)

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    The document is a general ledger for Flagstaff Service Co. showing account balances and transactions as of 12/31. It includes asset, liability, capital, revenue and expense accounts with debit and credit balances. Closing entries have been posted to transfer balances from temporary to permanent accounts.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    195 views6 pages

    Flagstaff GL After Closing

    Uploaded by

    Steven Sanderson
    The document is a general ledger for Flagstaff Service Co. showing account balances and transactions as of 12/31. It includes asset, liability, capital, revenue and expense accounts with debit and credit balances. Closing entries have been posted to transfer balances from temporary to permanent accounts.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    of 6

    Flagstaff Service Co. Gen'l.

    Ledger
    After Closing entries are posted
    Cash 101 Agee Capital
    Date Explanation Ref. Debit Credit Balance Date Explanation Ref.
    12/31 Balance 38,175 Dr. 12/31 Balance
    12/31 Closing J22
    12/31 Closing J22

    Accounts Receivable 102 Agee Drawing


    Date Explanation Ref. Debit Credit Balance Date Explanation Ref.
    12/31 Balance 112,500 Dr. 12/31 Balance
    12/31 Closing J22

    Prepaid Insurance 103 Income Summary


    Date Explanation Ref. Debit Credit Balance Date Explanation Ref.
    12/31 Balance 3,440 Dr. 12/31 Closing J22
    12/31 Closing J22
    12/31 Closing J22

    Store Supplies 104 Fees Earned


    Date Explanation Ref. Debit Credit Balance Date Explanation Ref.
    12/31 Balance 1,300 Dr. 12/31 Balance
    12/31 Closing J22

    Office Supplies 110 Salaries Expense


    Date Explanation Ref. Debit Credit Balance Date Explanation Ref.
    12/31 Balance 750 Dr. 12/31 Balance
    12/31 Closing J22

    Store Equipment 111 Advertising Expense


    Date Explanation Ref. Debit Credit Balance Date Explanation Ref.
    12/31 Balance 132,000 Dr. 12/31 Balance
    12/31 Closing J22

    Accum. Deprec. - Store Equipment 112 Depreciation Expense-Store Eq.


    Date Explanation Ref. Debit Credit Balance Date Explanation Ref.
    12/31 Balance 27,800 Cr. 12/31 Balance
    12/31 Closing J22

    Office Equipment 113 Supplies Expense


    Date Explanation Ref. Debit Credit Balance Date Explanation Ref.
    12/31 Balance 50,000 Dr. 12/31 Balance
    12/31 Closing J22

    Accum. Deprec. - Office Equipment 114 Rent Expense


    Date Explanation Ref. Debit Credit Balance Date Explanation Ref.
    12/31 Balance 14,000 Cr. 12/31 Balance
    12/31 Closing J22

    Accounts Payable 201 Insurance Expense


    Date Explanation Ref. Debit Credit Balance Date Explanation Ref.
    12/31 Balance 66,700 Cr. 12/31 Balance
    12/31 Closing J22

    Salaries Payable 202 Depreciation Expense-Office Eq.


    Date Explanation Ref. Debit Credit Balance Date Explanation Ref.
    12/31 Balance 4,900 Cr. 12/31 Balance
    12/31 Closing J22

    Unearned Rent Income 203 Miscellaneous Expense


    Date Explanation Ref. Debit Credit Balance Date Explanation Ref.
    12/31 Balance 400 Cr. 12/31 Balance
    12/31 Closing J22
    Notes Payable 210
    Date Explanation Ref. Debit Credit Balance
    12/31 Balance 60,000 Cr.
    301
    Debit Credit Balance
    75,150 Cr.
    129,215 204,365 Cr.
    40,000 164,365 Cr.

    302
    Debit Credit Balance
    40,000 Dr.
    40,000 -

    303
    Debit Credit Balance
    282,525 282,525 Cr.
    153,310 129,215 Cr.
    129,215 -

    401
    Debit Credit Balance
    282,525 Cr.
    282,525 -

    501
    Debit Credit Balance
    80,150 Dr.
    80,150 -

    502
    Debit Credit Balance
    25,000 Dr.
    25,000 -

    Expense-Store Eq. 503


    Debit Credit Balance
    7,500 Dr.
    7,500 -

    504
    Debit Credit Balance
    2,950 Dr.
    2,950 -

    505
    Debit Credit Balance
    26,000 Dr.
    26,000 -

    506
    Debit Credit Balance
    6,260 Dr.
    6,260 -

    Expense-Office Eq. 507


    Debit Credit Balance
    3,800 Dr.
    3,800 -

    508
    Debit Credit Balance
    1,650 Dr.
    1,650 -

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