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Sanchez's Bowling Alley's adjusted trial balance as of December 31, 2025, is presented below: View the adjusted trial balance. Read the requirements. ... Requirement 1. Prepare the closing entries for Sanchez's Bowling Alley. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing Question Viewer Date Dec. 31 Clos. (1) Accounts and Explanation Requirements Debit Credit 1. Prepare the closing entries for Sanchez's Bowling Alley. 2. Prepare a post-closing trial balance. 3. Compute the current ratio for Sanchez's Bowling Alley. Print Done - ☑ Sanchez's Bowling Alley Adjusted Trial Balance December 31, 2025 Balance Account Title Cash Accounts Receivable Debit Credit $ 19,000 3,500 Supplies Prepaid Insurance 750 2,900 Land 5,000 Building 115,000 Accumulated Depreciation-Building $ 8,000 39,000 Equipment Accumulated Depreciation-Equipment Accounts Payable 19,000 3,600 Utilities Payable 550 Salaries Payable 2,900 Unearned Revenue 2,100 Sanchez, Capital 127,450 Sanchez, Withdrawals 24,000 Service Revenue 120,000 Insurance Expense 25,000 Salaries Expense 25,000 Supplies Expense 1,100 Utilities Expense 19,000 Depreciation Expense-Equipment 4,000 350 Depreciation Expense-Building $ 283,600 $ 283,600 Total

Sanchez's Bowling Alley's adjusted trial balance as of December 31, 2025, is presented below: View the adjusted trial balance. Read the requirements. ... Requirement 1. Prepare the closing entries for Sanchez's Bowling Alley. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing Question Viewer Date Dec. 31 Clos. (1) Accounts and Explanation Requirements Debit Credit 1. Prepare the closing entries for Sanchez's Bowling Alley. 2. Prepare a post-closing trial balance. 3. Compute the current ratio for Sanchez's Bowling Alley. Print Done - ☑ Sanchez's Bowling Alley Adjusted Trial Balance December 31, 2025 Balance Account Title Cash Accounts Receivable Debit Credit $ 19,000 3,500 Supplies Prepaid Insurance 750 2,900 Land 5,000 Building 115,000 Accumulated Depreciation-Building $ 8,000 39,000 Equipment Accumulated Depreciation-Equipment Accounts Payable 19,000 3,600 Utilities Payable 550 Salaries Payable 2,900 Unearned Revenue 2,100 Sanchez, Capital 127,450 Sanchez, Withdrawals 24,000 Service Revenue 120,000 Insurance Expense 25,000 Salaries Expense 25,000 Supplies Expense 1,100 Utilities Expense 19,000 Depreciation Expense-Equipment 4,000 350 Depreciation Expense-Building $ 283,600 $ 283,600 Total

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sanchez's Bowling Alley's adjusted trial balance as of December 31, 2025, is presented below: View the adjusted trial balance. Read the requirements. ... Requirement 1. Prepare the closing entries for Sanchez's Bowling Alley. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing Question Viewer Date Dec. 31 Clos. (1) Accounts and Explanation Requirements Debit Credit 1. Prepare the closing entries for Sanchez's Bowling Alley. 2. Prepare a post-closing trial balance. 3. Compute the current ratio for Sanchez's Bowling Alley. Print Done - ☑
Transcribed Image Text:Sanchez's Bowling Alley's adjusted trial balance as of December 31, 2025, is presented below: View the adjusted trial balance. Read the requirements. ... Requirement 1. Prepare the closing entries for Sanchez's Bowling Alley. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing Question Viewer Date Dec. 31 Clos. (1) Accounts and Explanation Requirements Debit Credit 1. Prepare the closing entries for Sanchez's Bowling Alley. 2. Prepare a post-closing trial balance. 3. Compute the current ratio for Sanchez's Bowling Alley. Print Done - ☑
Sanchez's Bowling Alley Adjusted Trial Balance December 31, 2025 Balance Account Title Cash Accounts Receivable Debit Credit $ 19,000 3,500 Supplies Prepaid Insurance 750 2,900 Land 5,000 Building 115,000 Accumulated Depreciation-Building $ 8,000 39,000 Equipment Accumulated Depreciation-Equipment Accounts Payable 19,000 3,600 Utilities Payable 550 Salaries Payable 2,900 Unearned Revenue 2,100 Sanchez, Capital 127,450 Sanchez, Withdrawals 24,000 Service Revenue 120,000 Insurance Expense 25,000 Salaries Expense 25,000 Supplies Expense 1,100 Utilities Expense 19,000 Depreciation Expense-Equipment 4,000 350 Depreciation Expense-Building $ 283,600 $ 283,600 Total
Transcribed Image Text:Sanchez's Bowling Alley Adjusted Trial Balance December 31, 2025 Balance Account Title Cash Accounts Receivable Debit Credit $ 19,000 3,500 Supplies Prepaid Insurance 750 2,900 Land 5,000 Building 115,000 Accumulated Depreciation-Building $ 8,000 39,000 Equipment Accumulated Depreciation-Equipment Accounts Payable 19,000 3,600 Utilities Payable 550 Salaries Payable 2,900 Unearned Revenue 2,100 Sanchez, Capital 127,450 Sanchez, Withdrawals 24,000 Service Revenue 120,000 Insurance Expense 25,000 Salaries Expense 25,000 Supplies Expense 1,100 Utilities Expense 19,000 Depreciation Expense-Equipment 4,000 350 Depreciation Expense-Building $ 283,600 $ 283,600 Total
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