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categoryالقانون schoolبكالوريوس event_available2026-07-15

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Journalize and post closing entries, and prepare a post-closing trial balance. E4.8 (LO 2) Plevin Company ended its fiscal year on July 31, 2020. The company's adjusted trial bal- ance as of the end of its fiscal year is shown as follows. Plevin Company Adjusted Trial Balance July 31, 2020 No. Account Titles Debit Credit 101 Cash $ 9,840 112 Accounts Receivable 8,780 157 158 Equipment Accumulated Depreciation-Equip 15,900 $ 7,400 201 Accounts Payable 4,220 208 Unearned Reet Revenue 1.800 311 Common Stock 20,000 320 Retained Earnings 25.200 332 Dividends 16,000 400 Service Revenue 64,000 429 Rent Revenue 6,500 711 Depreciation Expense 8,000 726 Salaries and Wages Expense 55,700 732 Utilities Expense 14,900 $129,120 $129,120 Instructions a. Prepare the closing entries using page J15. b. Post to the Retained Earnings and No. 350 Income Summary accounts. (Use the three-column form.) c. Prepare a post-closing trial balance at July 31. E4.9 (LO 4) The adjusted trial balance for Plevin Company is presented in E4.8. Instructions a. Prepare an income statement and a retained earnings statement for the year. b. Prepare a classified balance sheet at July 31. Exercises 4-41 Prepare financial statements

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