Victoria Lee Company had the following adjusted trial balance

Victoria Lee Company
Adjusted Trial Balance
For the Month Ended June 30, 2019

Instructions

Prepare closing entries at June 30, 2019.
Prepare a post-closing trial balance

Solution

Victoria Lee Company
Closing Journal Entries

Victoria Lee Company
Post Closing Trial Balance
June 30, 2019

Problems: Completing the Accounting Cycle

"A worksheet is a permanent accounting record and its use is required in the accounting cycle." Do you agree? Explain.

Explain the purpose of a worksheet.

Process of preparing closing entries.

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Problem-22: Completing the Accounting Cycle

Instructions

Solution

Problems: Completing the Accounting Cycle

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