Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 4-11 a-b Selected accounts for Blossom's Salon are presented below. All June 30 postings are from closing entries. 6/10 6/28 Salaries and Wages Expense

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Exercise 4-11 a-b Selected accounts for Blossom's Salon are presented below. All June 30 postings are from closing entries. 6/10 6/28 Salaries and Wages Expense 2,900 5,720 8,620 6/30 Supplies Expense Bal. 8,620 500 6/12 6/24 Bal. 780 1,280 6/30 1,280 Service Revenue 6/15 9,600 9,700 6/30 19,300 6/1 6/24 19,300 Bal. Rent Expense 3,110 3,110 6/30 Owner's Capital 2,2006/1 6/30 Bal. 3,110 6/30 21,700 6,290 Co search 1. e 2 Bal. 3,110 3,11016/30 Owner's Capital 2,200 6/1 6/30 6/30 11,700 6,290 15,790 Bal. Owner's Drawings 700 6/13 6/25 1,500 Bal. 2,200 6/30 2,200 CALCULATOR PRINTERVENTION RACE NEKES 2 your answer in partially correct. Try again Prepare the desing entries that were made. (Credit account titles are automatically indented when amount is entered. Do not indentally Date Account Titles and explanation Det Credit June 30 Service Revenue 19,300 19,300 Income Summary (To close revenue account) June 30 income Summary 13,010 Salaries and Wages Expens 8,620 3,110 Rent Expense 1.280 Supplies Expense To dost expense account) 15.790 June 30 Income Summary 15.790 owner's Capital To dosent income 100 PM (To close net income / (loss)) June 30 Income Summary 2,200 Owner's Drawings 2,200 (To cose drawings) SHOW LIST OF ACCOUNTS LINK TO TEXT Your answer is partially correct. Try again. Post the closing entries to Income Summary. (Post entries in the order of journal entries posted in the previou Income Summary June 20 June 30 June 30 June 30 Total Total

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_2

Step: 3

blur-text-image_3

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

Financial Accounting, Enhanced

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

11th Edition

1119594596, 9781119594598

More Books

Students also viewed these Accounting questions