Closing Entries

After the accounts have been adjusted at April 30, the end of thefiscal year, the following balances were taken from the ledger of Twin Trees Landscaping Co.:

Oscar Killingsworth, Capital$870,670Oscar Killingsworth, Drawing40,000Fees Earned563,005Wages Expense426,800Rent Expense102,400Supplies Expense38,410Miscellaneous Expense12,805

Journalize the two entries required to close the accounts.

If an amount box does not require an entry, leave it blank.

Apr. 30Oscar Killingsworth, Capital

Fees Earned

Wages Expense

Rent Expense

Supplies Expense

Miscellaneous Expense

Apr. 30Oscar Killingsworth, Capital

Oscar Killingsworth, Drawing