Question

Pharoah Company had the following adjusted trial balance.

Answer 1

Answer:

The solution is given below

Step-by-step explanation:

The preparation of the post closing trial balance is given below

Particulars                 Debit amount         Credit amount

Cash                          $3,820

Account receivable  $4,040

Supplies                    $490

Account payable                                         $1,800

Unearned service revenue                         $180

Owner capital ($4,180 + $5,990 - $1,500 - $390 - $1,700 - $770) $5,810

Salary and wages payable                         $560

Total                    $8,350                            $8,350