Pure Plant Beauty is a sole proprietorship that has a developed a new line of skin care
Question:
Pure Plant Beauty is a sole proprietorship that has a developed a new line of skin care and makeup that uses natural and organic ingredients. The company showed the following adjusted account balances on April 30, 2020. Prepare and post the closing entries.
Transcribed Image Text:
Liabilities Capital Assets 30 250 200 Withdrawals Revenue Expenses 20 100 60 Income Summary
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (16 reviews)
2020 1 Apr 30 Revenue 100 Income Summary 100 To close the revenue account 2 30 ...View the full answer
Answered By
Antony Mutonga
I am a professional educator and writer with exceptional skills in assisting bloggers and other specializations that necessitate a fantastic writer. One of the most significant parts of being the best is that I have provided excellent service to a large number of clients. With my exceptional abilities, I have amassed a large number of references, allowing me to continue working as a respected and admired writer. As a skilled content writer, I am also a reputable IT writer with the necessary talents to turn papers into exceptional results.
4.50+
2+ Reviews
10+ Question Solved
Related Book For
Fundamental Accounting Principles Volume I
ISBN: 978-1260305821
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
Question Posted:
Students also viewed these Business questions
-
Jaspur Rentals showed the following adjusted account balances on April 30, 2014. Prepare and post the closing entries. Capital 200 Assets Liabilities 250 30 Expenses Income Summary Withdrawals...
-
Dorsier Company showed the following adjusted account balances on September 30, 2014: Equipment...
-
Huang Furniture Company showed the following adjusted account balances on September 30, 2020: Equipment...
-
Find the magnitude and direction of the electric field strength at the point P due to the point charges at A and B as shown in the Figure 1. (k = 9 x 10 Nm/C) +2 C 10 cm A 10 cm Figure 1 B -8 C (5...
-
Discuss a means by which managers of systems connected to the Internet could have designed their systems to limit or eliminate the damage done by a worm. What are the drawbacks of making the change...
-
Motivation is an abstract concept, one that cannot be directly observed. Using your knowledge of research methods, list some of the methodological issues/problems that motivation researchers must...
-
What leadership traits do you possess? What traits would you like to develop further?
-
Robert Parker, president of the Wilkerson Company, was discussing operating results in the latest month with Peggy Knight, his controller, and John Scott, his manufacturing manager. The meeting among...
-
j QUESTION 4 On September 1, 2018, Mills Company borrowed $157000 cash on a one-year note that required Mills to pay 8 percent interest and $157000 principal, both on August 31, 2019 Assuming the...
-
Magnesium silicate, Mg2SiO4, forms in the olivine crystal structure that consists of an HCP arrangement of O2- ions. (a) Which type of interstitial site will the Mg2+ ions occupy? Why? (b) Which type...
-
Using the adjusted trial balance in Problem 4-6A, prepare the income statement and statement of changes in equity for the year ended December 31, 2020, and the classified balance sheet at December...
-
The adjusted trial balance for Lloyd Construction as of December 31, 2020, follows: An analysis of other information reveals that Lloyd Construction is required to make a $41,500 payment on the...
-
The meaning of the term fund depends on the context in which it is used. Explain its meaning when used as a noun. Explain its meaning when it is used as a verb.
-
Critically evaluate the interplay between feedback skills, communication, listening, and assertiveness skills. How do these skills complement each other in the context of providing effective...
-
Generally, what was Starbucks intended strategy (first 2 minutes of video)? What is an emergent strategy mentioned in the video ( what changes made by Howard Schultz)? What were some (at least 2)...
-
1. first order of business is to create your city. What will you name your city? Name of City: 2. What are the main economic goals? Choose 2-3 goals . Why did choose these particular goals? What...
-
The organization I am presenting today is Tyler Coca-Cola Bottling, located in Tyler, Texas. Tyler Coca-Cola operates under the guidance of Coca-Cola Southwest Beverages. Tyler, Texas is a small...
-
Explain the interplay between power dynamics and communication patterns in hierarchical organizations. How do these factors influence decision-making and innovation?
-
Determine the moment of the force F about point P. Express the result as a Cartesian vector. 2m 3 m- 3 m 1m A F= (2i + 4j 6k) kN
-
Determine two different Hamilton circuits in each of the following graphs. A B F G
-
Some people argue that the internal control requirements of the Sarbanes-Oxley Act (SOX) put U.S. companies at a competitive disadvantage to companies outside the United States. Discuss the...
-
Some people argue that the internal control requirements of the Sarbanes-Oxley Act (SOX) put U.S. companies at a competitive disadvantage to companies outside the United States. Discuss the...
-
Some people argue that the internal control requirements of the Sarbanes-Oxley Act (SOX) put U.S. companies at a competitive disadvantage to companies outside the United States. Discuss the...
-
E1-1 Types of businesses Indicate whether each of the following companies is primarily a service, merchandise, or manufacturing business. If you are unfamiliar with the company, you may use the...
-
The country of Lebanon just invested $334,800 to build an amusement park. The amusement park is expected to produce cash inflows of $48,300 for 9 years and a cash inflow of $63,700 in Year 10. If...
-
Which of the following would not be shown in the operating activities section of the statement of cash flows? inventory sold collections from customers payments to suppliers exchanges of assets
Study smarter with the SolutionInn App