Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Closing entries After the accounts have been adjusted at June 30, the end of the fiscal year, the following balances were taken from the ledger

Closing entries 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 $1,100,000 30,000 Bashir Yousif, Drawing Fees Earned 975,000 580,000 120,000 31,600 12,400 Wages Expense Rent Expense Supplies Expense Miscellaneous Expense Journalize the two entries required to close the accounts. If an amount box does not require an entry, leave it blank June 30 Fees Earned Wages Expense Rent Expense Supplies Expense Fr Miscellaneous Expense Bashir Yousif, Capital June 30 Bashir Yousif, Drawing Bashir Yousif, Drawing - X 580,000 X 120,000 X 31,600 X 12.400 X 30,000 X 975.000 X 00
image text in transcribed
Ater the accoures have bees adjusted at Jute 30, the end of the fiscal yeas, the following balances were taien from the ledger of classic Landscaping Services

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Wiley CPA Exam Review Auditing And Attestation 2011

Authors: Patrick R. Delaney, O. Ray Whittington

8th Edition

0470554347, 978-0470554340

More Books

Students also viewed these Accounting questions