Selected accounts for Michelles Salon are presented below. All June 30 postings are from closing entries. Instructions

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Selected accounts for Michelle€™s Salon are presented below. All June 30 postings are from closing entries.

Instructions
(a) Prepare the closing entries that were made.
(b) Post the closing entries to IncomeSummary.

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Financial and managerial accounting

ISBN: 978-1118016114

1st edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Dec 29, 2012 03:29 AM

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Selected accounts for Michelles Salon are presented below. All June 30 postings are from closing entries. Instructions

Question:

Salaries and Wages Expense Service Revenue Retained Earnings 6/10 3,200 6/30 8,800 6/30 18,100 6/15 9,700 6/30 2,200 6 12,000 6/30 5,400 Bal 15,200 6/28 5,600 6/24 8,400 Supplies Expense Rent Expense Dividends 6/12 600 6/30 900 61 6/24 300 3,000 6/30 3,0006/1 ,000 30 2.200 6/25 1,200

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a June 30 Service Revenue 18100 Income Summary ...View the full answer

Financial and managerial accounting

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