Selected accounts for Lees Salon at December 31, 2024, are presented below. Instructions a. Prepare closing entries
Question:
Selected accounts for Lee’s Salon at December 31, 2024, are presented below.
Instructions
a. Prepare closing entries to close the accounts.
b. Post the entries.
Transcribed Image Text:
A. Lee, Capital Dr. Salaries Expense Dr. Cr. 21,000 Cr. 30,000 A. Lee, Drawings Dr. 2,000 Dr. Rent Expense 6,000 Cr. Cr. Service Revenue Dr. Supplies Expense Dr. Cr. 7,000 Cr. 50,000
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a b Dec 31 Service Revenue Income Summary To close revenue accoun...View the full answer
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Related Book For
Accounting Principles Volume 1
ISBN: 9781119786818
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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