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Could someone show me why part of my problem is incorrect? Thanks so much! Your answer is partially correct. Try again The ledger of Wildhorse
Could someone show me why part of my problem is incorrect? Thanks so much!
Your answer is partially correct. Try again The ledger of Wildhorse Company contains the following balances: Owner's Capital $29,600, Owner's Drawings $2,800, Service Revenue $51,000, Salaries and Wages Expense $25,700, and Supplies Expense $7,100 Prepare the closing entries at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Dec. 31 Service Revenue 51000 TIncome Summary 151000 (To close revenue account) Dec. 31Tncome Summary T32800 Salaries and Wages Expense 25700 Supplies Expense 100 (To close expense accounts) Dec. 31ncome Summary 26800 X 26800 Owner's Capital (To close net income/ (loss)) Dec. 31TOwner's Capital T2800 Owner's Drawings T2800 (To close drawings)Step by Step Solution
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