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could you solve this accounting question ? Thank you Additional Exercise 3.14 Selected accounts for Silver Shears Salon are presented below. All 30 June postings
could you solve this accounting question ? Thank you
Additional Exercise 3.14 Selected accounts for Silver Shears Salon are presented below. All 30 June postings are from closing entries. Salaries expense 3,200 30/6 5,600 10/6 28/6 Service revenue 16,100 15/6 24/6 30/6 Mary Stamos, Capital 2,500 1/6 30/6 Bal. 30/6 Supplies expense 600 30/6 700 12/6 24/6 Rent expense 3,000 30/6 1/6 13/6 25/6 Required Mary Stamos, Drawing 1,000 30/6 1,500 8,800 7,700 8,400 12,000 3,000 12,500 1,300 3,000 2,500 (a) Prepare the closing entries that were made. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Accounts and description June 30 (To close service revenue) June 30 (To close expenses) June 30 (To close income summary) Debit Credit June 30 (To close Mary Stamos, Drawings) (b) Post the closing entries to Profit or loss summary. Profit or loss summary 30/6 30/6 30/6Step by Step Solution
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