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Anderson Companys partial worksheet for the month ended December 31, 20X1, is shown below. Open the owners capital account (account number 301) in the general
Anderson Companys partial worksheet for the month ended December 31, 20X1, is shown below. Open the owners capital account (account number 301) in the general ledger and record the December 1, 20X1, balance of $69,000 shown on the worksheet.
Income Statement | Balance Sheet | |||||||
Account Name | Debit | Credit | Debit | Credit | ||||
Cash | 19,500 | |||||||
Accounts receivable | 23,000 | |||||||
Supplies | 9,500 | |||||||
Equipment | 62,500 | |||||||
Accumulated depreciationEquipment | 21,000 | |||||||
Accounts payable | 19,500 | |||||||
J. Anderson, Capital | 69,000 | |||||||
J. Anderson, Drawing | 6,500 | |||||||
Fees income | 49,000 | |||||||
Salaries expense | 27,800 | |||||||
Security expense | 3,300 | |||||||
Supplies expense | 1,650 | |||||||
Depreciation expenseEquipment | 4,750 | |||||||
Totals | 37,500 | 49,000 | 121,000 | 109,500 | ||||
Net income | 11,500 | 11,500 | ||||||
49,000 | 49,000 | 121,000 | 121,000 | |||||
Prepare the closing entries for the Anderson Companys on December 31, 20X1. Post the closing entries to the owners capital account. Prepare a post-closing trial balance.
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