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Baby Kitty Company's adjusted trial balance on June 30, 2018, its financial year-end, follows. Credit Debit $ 41,600 46,880 $ 25,900 19,500 8,100 226,200 Merchandise
Baby Kitty Company's adjusted trial balance on June 30, 2018, its financial year-end, follows. Credit Debit $ 41,600 46,880 $ 25,900 19,500 8,100 226,200 Merchandise inventory Other (noninventory) assets Total liabilities N. Kitty, Capital N. Kitty, Withdrawals Sales Sales discounts Sales returns and allowances Cost of goods sold Sales salaries expense Rent expense-Selling space Store supplies expense Advertising expense Office salaries expense Rent expense-Office space Office supplies expense 2,270 12,500 72,700 31,500 8,400 1,600 12,500 29,500 3,600 450 Totals $271,600 $ 271,600 On June 30, 2017, merchandise inventory was $25,000. Supplementary records of merchandising activities for the year ended June 30, 2018, reveal the following itemized costs. $ 91,700 2,900 Invoice cost of merchandise purchases Purchase discounts received Purchase returns and allowances Costs of transportation-in 4,400 4,900 Required: 1. Prepare closing entries as at June 30, 2018 (the perpetual inventory system is used). (Omit the "$" sign in your response) Debit Credit Date Aug. 31 General Journal To close temporary accounts with credit balances. (Click to select) (Click to select) To close temporary accounts with debit Aug. 31 balances. (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) Aug. 31 To close the Income Summary account. (Click to select) (Click to select) Aug. 31 To close the withdrawals account. Click to select) (Click to select)
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