Based on the Following Adjusted Trial Balance, Prepare the Closing $\quad$

question 87

Essay

Based on the following adjusted trial balance, prepare the closing entries for Dave Scott and Associates (a proprietorship)on December 31, 2019. $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text {Dave Scott and Associates}$
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text {Adjusted Trial Balance}$
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text {December 31,2019}$

$\begin{array}{lrr} & \text { Deb it } & \text { Credit } \\\text { Cash } & \$ 13,600 & \\\text { Accounts receivable } & 2,000 & \\\text { Office supplies } & 700 & \\\text { Prepaid insurance } & 1,200 & \\\text { Equipment } & 15,600 & \\\text { Accum. amort.-equipment } & & \$ 3,900 \\\text { Accounts payable } & & 6,800 \\\text { Salary payable } & & 1,100 \\\text { Unearned service revenue } & & 800 \\\text { Dave Scott, Capital } & & 22,900 \\\text { Dave Scott, Withdrawals } & 4,900 & \\\text { Service revenue } & & 9,250 \\\text { Advertising expense } & 1,400 & \\\text { Amort. expense-equipment } & 1,300 & \\\text { Supplies expense } & 500 & \\\text { Insurance expense } & 650 & \\\text { Utilities expense } & 2,900 & \$ 44,750\end{array}$

Comprehend the formation and interpretation of z-scores in statistical data.

Understand how changes in data affect summary statistics (mean, median, standard deviation, etc.).

Apply the Normal distribution model to real-world problems.

Calculate and interpret intervals for central percentages under the Normal curve.

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Definitions:

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A sexual preference defined by feeling romantically or sexually attracted to people of the opposite gender.

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The study of how specific events, cultures, and societies have evolved over time.

Wal-Mart

is a multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, known for its significant impact on global retail and economy.