ACC 290 Week 5 Apply: Connect Assignment

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 ACC 290 Week 5 Apply: Connect Assignment
 

Complete the Week 5 Assignment in Connect.

Note: You have only 1 attempt available to complete assignments

 

1
 

On December 31, after adjustments, Gonzalez Company’s ledger contains the following account balances:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 
 
 
 
101
Cash
$
30,200
Dr.
 
111
Accounts Receivable
 
16,100
Dr.
 
121
Supplies
 
2,300
Dr.
 
131
Prepaid Rent
 
38,900
Dr.
 
141
Equipment
 
47,000
Dr.
 
142
Accumulated Depreciation—Equip.
 
1,150
Cr.
 
202
Accounts Payable
 
6,800
Cr.
 
301
Emilio Gonzalez, Capital (12/1/2019)
 
48,620
Cr.
 
302
Emilio Gonzalez, Drawing
 
6,500
Dr.
 
401
Fees Income
 
120,080
Cr.
 
511
Advertising Expense
 
4,100
Dr.
 
514
Depreciation Expense—Equip.
 
830
Dr.
 
517
Rent Expense
 
2,900
Dr.
 
519
Salaries Expense
 
21,800
Dr.
 
523
Utilities Expense
 
6,020
Dr.
 
 
 

Required:

 

 

 

Journalize the closing entries in the general journal.
 

 

Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances.
 

 

Analyze:

What is the balance of the Salaries Expense account after closing entries are posted?

 

2
 

A partially completed worksheet for At Home Pet Grooming Service, a firm that grooms pets at the owner’s home, follows.

Required:

 

 

 

Complete the worksheet.
 

 

Record the adjusting entries in the general journal (transactions 1-3).
 

 

Record the closing entries in the general journal (transactions 4-7).
 

 

Post the adjusting entries and the closing entries to the general ledger accounts. Hint:  Be sure to enter beginning balances.
 

 

Prepare a post-closing trial balance.
 

 

Analyze:

What total debits were posted to the general ledger to complete all closing entries for the month of December?
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