From the following posted T accounts, reconstruct the closing journal entries for August 31, 201X. M. Fahy,
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M. Fahy, Capital Withdrawals 100 7,000 (Aug. 1) Insurance Expense 275 Closing 275 375 Net Income . Fahy Withdrawals Wage Expense 100 Closing 100 400 Closing 400 Rent Expense 1,800 Closing 1,800 Income Summary Expenses 2,925 Revenue 3,300 Closing 375 Balance 375 Salon Fees Depreciation Expense, Equipment Closing 3,300 3,300 450 Closing 450
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Date 201X Account Titles and Description PR Dr Cr Closing Entries Aug 31 ...View the full answer
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College Accounting A Practical Approach Chapters 1-25
ISBN: 9780133791006
13th Edition
Authors: Jeffrey Slater
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