6-4 Using the following partial list of T-Accounts do exercise. 1. Prepare closing entries dated January 31, 20--. Do not enter the posting references until you complete part 2. If an amount box does not require an entry, leave it blank. 2. Post the closing entries to the T accounts following the top-down journal entry order. If there is more than one closing entry for an account, enter in the order given in the journal. Then, complete the posting in part 1. Use the below work sheet for Major Advising to do exercise.

( FOR EXERCISES 6 - 14 , 6 - 24, 6 - 34, AND 6- 4A) Major Advising Work Sheet ( Partial ) For Month Ended January 31 , 20 - - INCOME STATEMENT BALANCE SHEET ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT 1| Cash 1| 3| 3 9| 00 2| Accounts Receivable 9/ 3\\ 5| 00 2 3\\ Supplies 3/ 4 6 / 00 4| Prepaid Insurance 8| 0| 0| 00 4 5\\ Office Equipment 3| 5| 0| 0| 00 5 6| Accum . Dept . - Office Equipment 9 7| Accounts Payable 2 0 0| 00| 8| Wages Payable 1/ 0 0 0 00| 7\\ 9\\ Ed Major , Capital 3| 0 0 00| 8 10 Ed Major , Drawing 4| 1 0 0 1 00| 9\\ 17\\ Advising Fees 9/ 0 0| 00 10 12| Wages Expense 4| 1 4 0 00 11 13| Advertising Expense 7 0 0 00 9 0| 00 12 14| Rent Expense 15\\ Supplies Expense 5 0 0 00 13 16\\ Phone Expense 1 5 0 00 14 17\\ Electricity Expense 6 7| 00 18| Insurance Expense 4 8| 00 19\\ Gas and Oil Expense 8 9 / 00 5 3| 00 18 20| Dept . Expense _ Office Equipment 2 0 0 00 19 21| Miscellaneous Expense 2 3| 00 20 22 21 23\\ Net Income 1/ 9 2 0 | 00 4| 1 4 0 00| 7/ 8| 2| 0| 00| 241 2| 2 2 0| 00 5/ 6 0| 0| 00| 22 4| 1 4 0 00| 4| 1| 4 0 00| 7/ 8| 2| 0| 00| 2| 2| 2| 0| 00| 23 7/ 8| 21 0 100| 24204 PART 1 Accounting for a Service Business E 6-4A (LO2) Capital 1/31: $5,420 CLOSING ENTRIES (NET INCOME) Set up T accounts for Major Advising based on the work sheet in Exercise 6-1A and the chart of accounts provided below. Enter moda sonaled or's singgag on bal the existing balance for each account. Prepare closing entries in general journal form. Then post the closing entries to the T accounts. 578 3nomsima Isionanil doidw nO Sonsooos inensaneq Assets sbonousr arnuobas mand Chart of Accounts 101 122 Cash mos to zoqv3 soar omak1 . Revenues Accounts Receivable 401 Advising Fees oris to sonsled oris no com 141 145 Supplies Expenses Sbeanluolso anwroms ant 181 Prepaid Insurance Office Equipment igno a'anwo 511 Wages Expense Ssonsled Isin 181.1 Accum. Depr.-Office Equip. 512 Advertising Expense 521 Rent Expense 524 Liabilities Supplies Expense 525 Phone Expense 202 Accounts Payable 533 Electricity Expense 219 Wages Payable 535 Insurance Expense -53q .woled anizivbA rojaM zot tsarlashawn Isingg arh mort TV MUTATa 3MO 538 Gas and Oil Expense 541 Depr. Exp.-Office Equip. Owner's Equity .3names are omroom is 549 Miscellaneous Expense i gingerg woletl doodle dlow 311 Ed Major Capital 312 Ed Major Drawing TWO TO THEMSTATS aattwo oshi yd sbam aaw mom 313 Income Summary E 6-5A (LO2) 1 376907 CLOSING ENTRIES (NET INCOME) Using the following partial listing of epare closing entries in general journal form dated April 30, 20--. Then( FOR EXERCISES 6- 1B, 6 - 2B, 6 - 3 B, AND 6 - 4B ) Adams' Shoe Shine Work Sheet ( Partial ) For Month Ended June 30 , 20 - - INCOME STATEMENT BALANCE SHEET ACCOUNT TITLE DEBIT "REDIT DEBIT CREDIT \\Cash 3| 2 6 2| 00 2| Accounts Receivable* 1 / 2| 4 4| 00 3\\ Supplies 8 0 01 00 3 4| Prepaid Insurance 6 4 0 00 4 5| Office Equipment* 2 / 1 0 0100 5 6| Accum . Dept . __ Office Equipment 1 / 1 0 00| 6 7\\ Accounts Payable 1\\8| 5 0| 00| 7 8| Wages Payable \\2| 6 0| 00| 8| 16\\00 10 0| 0| 9 9| Mary Adams , Capital 10| Mary Adams , Drawing 210 0 0 1 00 10 11\\ Service Fees 4| 8 | | | 3 | 00 11 12| Wages Expense 1/ 0| 8| 0| 00 12 13| Advertising Expense \\3| 4 00 13 14| Rent Expense 9| 0| 0 | 00 14 15\\ Supplies Expense 3| 2| 2 / 00 15 16| Phone Expense 1 / 3| 3 | 00 16 17\\ Utilities Expense 1/ 0| 2 | 00 18| Insurance Expense 1/ 2| 0| 00 18 19\\ Gas and Oil Expense 19 20\\ Dept . Expense - Office Equipment 1 / 1| 0| 00 20 21| Miscellaneous Expense 21 22 2| 9| 8| 7 | 00 4| 8| | | 3| 00| 10| 0| 4 6| 00| 8| 2| 2| 0 | 00| 22 23| Net Income 1 / 8 / 2| 6| 00 1/ 8| 2| 6| 00| 23 24 4| 8| 1 / 3| 001\\ 4| 8| 1| 3 | 00| 10 | 0| 4 6 | 00| 10| 0| 4| 6 | 00| 2423 Net Income 4 6 00 1 8 2 6 00 8 2 2 0 00 24 1 8 2 6 00 23 4 8 1 3 00 4 8 1 3 00 10 0 4 6 00 10 0 4 6 00 24 E 6-4B (LO2) / Capital 6/30: $5,826 CLOSING ENTRIES (NET INCOME) Set up T accounts for Adams' Shoe Shine based on the work sheet above and the chart of accounts provided below. Enter the existing balance for each account. Prepare closing entries in general journal form. Then post the closing entries to the T accounts. Chart of Accounts Assets Revenues 101 Cash 401 Service Fees 122 Accounts Receivable 141 Supplies Expenses 145 Prepaid Insurance 511 Wages Expense 181 Office Equipment 512 Advertising Expense 181.1 Accum. Depr.-Office Equip. 521 Rent Expense 523 Supplies Expense Liabilities 525 Phone Expense 202 Accounts Payable 533 Utilities Expense 219 Wages Payable 535 Insurance Expense 538 Gas and Oil Expense Owner's Equity 542 311 Mary Adams, Capital 549 Depr. Exp.-Office Equip. Miscellaneous Expense 312 Mary Adams, Drawing 313 Income Summary