Question
After the accounts have been adjusted at June 30, the end of the fiscal year, the following balances were taken from the ledger of classic
After the accounts have been adjusted at June 30, the end of the fiscal year, the following balances were taken from the ledger of classic landscaping services
Bashir Yousif, Capital $3,551,000
Bashier Yousif, Drawing $41,500
Fees Earned $1,200,000
Wages Expense $741,700
Rent Expense $68,600
Supplies Expense $ 14,950
Misc Expense $8,750
Journalize the two entries required to close the accounts
Chart of accounts
Assets
11. Cash
12 A/R
13 Supplies
14 Prepaid Rent
15 Land
Liabilities
21 A/P
22 Unearned Fees
23 Wages Payable
Equity
31 Bashir Yousif, Capital
33 Bashir Yousif, Drawing
Revenue
41 Fees Earned
Expenses
51 Wages Expense
52 Rent Expense
53 Supplies Expense
59 Misc Expense
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