Question
elected accounts for Pharoahs Salon are as follows. All June 30 postings are from closing entries. Salaries and Wages Expense 6/10 2,600 6/30 8,120 6/28
elected accounts for Pharoahs Salon are as follows. All June 30 postings are from closing entries.
Salaries and Wages Expense | |||
6/10 | 2,600 | 6/30 | 8,120 |
6/28 | 5,520 | ||
Supplies Expense | |||
6/12 | 540 | 6/30 | 1,260 |
6/24 | 720 | ||
Service Revenue | |||
6/30 | 18,400 | 6/15 | 8,800 |
6/24 | 9,600 | ||
Rent Expense | |||
6/1 | 2,850 | 6/30 | 2,850 |
Owners Capital | |||
6/30 | 2,430 | 6/1 | 12,200 |
6/30 | 6,170 | ||
Bal. | 15,940 | ||
Owners Drawings | |||
6/13 | 600 | 6/30 | 2,430 |
6/25 | 1,830 |
Prepare the closing entries that were made. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date | Account Titles and Explanation | Debit | Credit |
June 30 | |||
(To close revenue account) | |||
June 30 | |||
(To close expense account) | |||
June 30 | |||
(To close net income / (loss)) | |||
June 30 | |||
(To close drawings) |
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