Attempts: 0 of 3 used Closing entries at the end of year, Posting Entries in Ledgers: date : 31-07, balance on right side is balance brought down after closing the account and that balance is transferred to retained earnings account. $710 on right side is balance c/d and balance on left side $710 is balance b/d and is transferred to retained earnings. income summary account balance and dividends are transferred to retained earnings account are remaining balance is $4380. Explanation Please refer to solution in this step. Depreciation Expense on right side ($210) is balancing figure and balance on left side ($210) is brought down balance and is transferred to income summary account. Insurance Expense on right side ($180) is balancing figure and balance on left side ($180) is brought down balance and is transferred to income summary account. Salaries and Wages Expense on right side ($2,830) is balancing figure and balance on left side ($2,830) is brought down balance and is transferred to income summary account. osting the Journal entries to Ledgers Service revenue balance on left side is balancing figure ($9,330) and balance on right side ($9,330) is brought down balance and is transferred to income summary account. Maintenance and Repairs Expense on right side (\$ 340 ) is balancing figure and balance on left side ($340) is brought down balance and is transferred to income summary account. SWIFTY WINDOW WASHING INC. Trial Balance July 31, 2022 Accounts Receivable Supplies Prepaid insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Common Stock Dividends Service Revenue 7440 Credit \begin{tabular}{|l|} \hline 380 \\ \hline \end{tabular} \begin{tabular}{|r|} \hline 1980 \\ \hline \end{tabular} Maintenance and Repairs Expense Supplies Expense \begin{tabular}{|c|} \hline+440 \\ \hline \end{tabular} Depreciation Expense \begin{tabular}{|r|} \hline 210 \\ \hline \end{tabular} Insurance Expense 180 Salaries and Wages Expense. 6370 \begin{tabular}{|r|} 470 \\ \hline \end{tabular} 14200 Journalize the following adjustments. (Credit account titles are outomatically indented when the amount is entered, Do not indent manually. If no entry is required, select " No Entry" for the account titles and enter 0 for the amounts.) (1) Services performed but unbilled and uncollected at July 31 were $2,010. (2) Depreciation on equipment for the month was $210. (3) One-twelfth of the insurance expired. (4) A count shows $380 of cleaning supplies on hand at July 31 . (5) Accrued but unpaid employee salaries were $470. Prenare the income statement for Julv. Prepare a retained earnings statemcni ur July. (List items that increase retained earnings first.)
