Question
Foxy Investigative Services is an investigative services firm that is owned and operated by Shirley Vickers. On November 30, 20Y8, the end of the fiscal
Foxy Investigative Services is an investigative services firm that is owned and operated by Shirley Vickers. On November 30, 20Y8, the end of the fiscal year, the accountant for Foxy Investigative Services prepared an end-of-period spreadsheet, a part of which follows:
Foxy Investigative Services | |||
End-of-Period Spreadsheet | |||
For the Year Ended November 30, 20Y8 | |||
~ | Adjusted Trial Balance | ||
Account Title | ~ | Dr. | Cr. |
~ | |||
Cash | ~ | 27,500 | |
Accounts Receivable | ~ | 71,800 | |
Supplies | ~ | 3,550 | |
Prepaid Insurance | ~ | 750 | |
Building | ~ | 330,500 | |
Accumulated Depreciation-Building | ~ | 184,100 | |
Accounts Payable | ~ | 16,100 | |
Salaries Payable | ~ | 6,600 | |
Unearned Rent | ~ | 1,500 | |
Common Stock | ~ | 40,000 | |
Retained Earnings | ~ | 70,300 | |
Dividends | ~ | 30,000 | |
Service Fees | ~ | 675,500 | |
Rent Revenue | ~ | 9,000 | |
Salaries Expense | ~ | 435,000 | |
Rent Expense | ~ | 55,000 | |
Supplies Expense | ~ | 11,850 | |
Depreciation Expense-Building | ~ | 10,000 | |
Utilities Expense | ~ | 8,800 | |
Repairs Expense | ~ | 4,250 | |
Insurance Expense | ~ | 3,000 | |
Miscellaneous Expense | ~ | 11,100 | |
~ | 1,003,100 | 1,003,100 | |
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How do I make the journal?
. | Based upon the end-of-period spreadsheet, journalize the closing entries. Refer to the Chart of Accounts below for exact wording of account titles.
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CHART OF ACCOUNTS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foxy Investigative Services | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
General Ledger | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Insert journal below
DATE | DESCRIPTION | POST. REF. | DEBIT | CREDIT | ASSETS | LIABILITIES | EQUITY | |
---|---|---|---|---|---|---|---|---|
1 |
| Closing Entries |
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