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Closing Entries (Net Income) Use the following partial listing of T accounts to complete this exercise. Cash 101 Bal. 500 Accounts Receivable 122 Bal. 1,500
Closing Entries (Net Income) Use the following partial listing of T accounts to complete this exercise. Cash 101 Bal. 500 Accounts Receivable 122 Bal. 1,500 Wages Payable 219 Bal. 400 Chris Williams, Capital 311 Bal. 9,000 Chris Williams, Drawing 312 Bal. 1,000 Income Summary 313 Golf Instruction Fees 401 Bal. 4,000 Wages Expense 511 Bal. 860 Advertising Expense 512 Bal. 200 Travel Expense 515 Bal. 600 Supplies Expense 524 Bal 5001 Insurance Expense 535 Bal. 100 Postage Expense 536 Bal. 50 Gas and Oil Expense 538 Bal. 150 Miscellaneous Expense 549 Bal. 80 Required: 1. Prepare closing entries in general journal form dated April 30, 20... Then post the closing entries to the T accounts. Page: 1 DOC. POST. DATE ACCOUNT TITLE DEBIT CREDIT NO. REF. 20-- 1 Apr. 30 1 1. Prepare closing entries in general journal form dated April 30, 20--. Then post the closing entries to the Page: 1 DATE ACCOUNT TITLE DOC. NO. POST. REF. DEBIT CREDIT 1 20- Apr. 30 1 2 2 11 00 3 4 Apr. 30 4 5 6 6 7 7 8 8 9 9 10 10 11 11 12 12 13 13 14 Apr. 30 14 15 15 16 16 17 Apr. 30 17 ottakeAssignmentMain.do?invoker=&take SessionLocator=&inprogress=false 16 16 17 Apr. 30 17 18 18 19 19 2. Post the dosing entries to the T accounts. If there is more than one closing entry for an account, enter in the orc Cash 101 Bal. 5001 Accounts Receivable 122 Bal. 1,500 Wages Payable 219 Bal. 400 Chris Williams, Capital 311 Closing Bal. 9,000 Closing Bal. Chris Williams, Capital 311 Closing Bal. 9,000 Closing Bal. Chris Williams, Drawing 312 Bal. 1,000 Closing Income Summary 313 Closing Closing Closing Golf Instruction Fees 401 Closing Bal. 4,000 Wages Expense 511 Bal. 860 Closing Bal. 860 Closing Advertising Expense 512 Bal. 200 Closing Travel Expense 515 Bal. 600 Closing Supplies Expense 524 Bal. 500 Closing Insurance Expense 535 Bal. 100 Closing 536 Postage Expense 50|closing Bal. 524 Supplies Expense 500 Closing Bal. Insurance Expense 535 Bal. 100 Closing Postage Expense 536 Bal. 50 Closing Gas and Oil Expense 538 Bal. 150|Closing Miscellaneous Expense 549 Bal. 80 Closing
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