Accounting Assignment | College Homework Help

Sofia Retail Pocketbook Store Adjusted Trial Balance Dec. 31, 2019 Credit Debit $300,000 $58,000 125,000 222,000 98,000 23,000 369,000 90,000 Merchandise Inventory Unearned Sales Revenue Accumulated Depreciation-Building Accounts Receivable Rent Expense Insurance Expense Building Withdrawals-Sofia Accounts Payable Interest Revenue Depreciation Expense Salary Expense Cash Note Payable Cost of Goods Sold Capital-Sofia Sales Revenue Prepaid Insurance Service Revenue 20,000 3,000 27,000 120,000 50,000 35,000 394,000 825,000 591,000 13,000 49,000 Totals $1,706,000 $1,706,000 Problem (I.) From the above prepare the 4 year-end closing journal entries (5 pts. per J/E, total 20 pts.) Problem (II.) From the above prepare: 10pts.) A. a list of the Liabilities, no dollars needed-5 pts. B. a list of Assets, no dollars needed – 5 pts.