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The Fees Earned for the closing entries to T acccountsis 140000

m One: Instructions e closing entries to the accounts. Thompson Accounting Services Adjusted Trial Balance Capital Objective Qurestions MyAccountingLab Problem 1: Closing Entries Problem 2: Financial Statements Problem 3: Worksheet Probem 4: General Journal 56,000 1. The first closing entry closes Accounts Receivable Office Supplies 20,000 32,000 8,000 2. The second closing entry closes Dra 20,000 135,000 0003. The third closing entry closes Income Sum Accounts Payable Salaries Payable 25,000 15,000 56,000 | 4. The fourth closing entry closes Th Fees Eamed Advertising Expense Maintenance Expense Salaries Ex Utilities Expense Drawi 20,000 140,000 Fees Eamed 4,000 66,000 13,000 311,000 11,000 Advertising Expense Thompson Accounting Services Post-Closing Trial Balance December 31, 2018 9,000 Journalize the closing entries. Skip a line between entries Account Title eblt Credit Entries Maintenance 31-Dec 4,000 S65,000 Uhilities Expense Problem 1 Problem 2 Problem 3 Problem 4 Problem 5 G Comapiere the hree financ stareeats bciow usng the fres from me Adjusted Trial Dafance from Prowem 1 (same figures are Delow) Thonpson Accoundivn Services Be sure to FISCAL PERIOD for all tManCoN statements a. Complece an ocome Statevnet for the year ended Decender 31, 2010. b. Staremevr af owners Fqty for the yaar anded Dacember 31, 2018 c. Classiied Boce Sheet for the year ended December 31, 2019. Make suwe this is a CLASSIENEDBALANCE SHEET Athusted Trsal Balavoce d. Be sure to answer questions b-9 below December Cash 20,000 32,000 8,000 Racewahle af a wsess cao be food i four places. Name them. Orfice Suppies Prepaid MSace 5,000 75000 25,000 15,000 Staterned of Owwer's E Accounts Payable Salarles Payable Thompson, Capital 20,000 Fees Eaned 40,000 9,000 7. What hssation ofaccous are considered temporary or novinaf accounts Salaries Fxpense 65,000 13,000 11,000 s ompson Accounming Service8 SHEET SSAFIED 9. Rasad busiwess ta n ree financial staremns yne completed above. whar colld you mar me owner abaar how me Assets t fiscal year? What recorwnendations would you make to the owner? Problem 1 Problm Problem 3 Problem 4 Problem 5 Q R S 2 Problem 3: Smvth Salon Worksheet the Year Ended December 31, 2018 Adjus Trial Balance 9 Accoun 10 Adjustments Statement 12 Cash 13 Accounts Receivable 14 OTTice Supplies 15 16 Eq 70,000 35,000 8.000 17 Accumulared 18 Accounts Payable 19 Salaries Payable 20 Unearned Revenue 21 Smith, Capital 22 Smith, Dra 23 Fees Earned 24 Salaries Expense 25 nsurance Expense 26 Supplies Expense 27 Uiities Expense 100,000 $ 55,000 13,000 40.000 204,000 120,000 reciation 437,000 437,000 31 32 AdjustmentS: 33 a. Depreciation on the equipment, $5,000 34 b. Accrued Salaries Expense, $10,000. 35 c. Otfice Supplies used up, $6,000. 36 d. Prepaid Insurance expired during the year, $5,000. 37 e. Unearned Revenue earned the $9,000 Problem 1 Problem 2 Problem 3 Problem 4 Problem 5 used of the busmes5, $40,000 Use these account Marnes for ejournal entres ,N -Dec Fald foar monats' re io advance on a lease rental conract, $10,000 Posrsach acesolsorna sany 0 me T"Accoonrs on Prodiom 5 Worksbeer rab below. neaBalance for LarkioG 3-Dec Receved cash frow a centas ao advance payment for sevices sobe provide -Dec over ahe next st months, $12.000 wec purchased otice sunnies " account trom Mason 5-Dec Receved cash from cVenrs for fees earoed $2,000 -D all caah foranewspaper advarisemant $1,000. S6,000. Larkan, Capna SuppNes Acc. Deprec-Equimanr Accounrs Payable Salaries Eepese nies Expense -Dec Pand sataries expense,$4000 9-Dec Receved cash from cussomers on accooIt $2,000 -Dc Furcased odca squpon for $5,000 Paid $2,000 cash as a dowo pawenr emavider to pand over the next to days 11-Dec The owner wiabdrew $3,000 for person sC Problem 1 Problem 2 Problem 3 Problem 4 Problem 5 Page Setup Scale to FI Sheet Options 017 xLarkin, Drawing M N 1 Probwem 5 3 instructons: 4 1. Give each Taccomt an accoant nwnber from ProweT 4 5 2. Post the entries from the Geperal Journal to the "T-accouts. Larkn Consting Trial Balance December 31, 2018 9 Cash 101 Accoumts Rec Prepald Rem AccoUIs Recevable Prepaid Rent 10 40,000 Office Equipment Acc. tMeamed ReveNJe Larkin, Dra Fees Eamed Advertising Expense Salaries Expense 9 onice Equipment Acc. Deprec-Equip Accouns Payable Fees Earmed $ 40,000 31 Salaries E Utibnies F