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Rainbow Service Co offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at August 31, the end of the fiscal yet the following balances were taken from the ledger of Rainbow Services Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Supplies Expense Miscellaneout Expense $946,000 11.600 521.400 479,600 71500 11,360 14.250 Journaise the four entries required to close the accounts. Autor to the Chart of Accounts for exact warding of accounts Previous 17" A 615 Check My Work 4 more Check My Work uses remaining o o Chart of Accounts CHART OF ACCOUNTS Rainbow Services Co. General Ledger ASSETS REVENUE 41 Fees Earned 11 Cash 12 Accounts Receivable 13 Prepaid Rent 14 Supplies EXPENSES 51 Wages Expense 52 Rent Expense 53 Supplies Expense 54 Miscellaneous Expense LIABILITIES 21 Accounts Payable 22 Wages Payable 23 Unearned Fees EQUITY 31 Common Stock Check My Work 4 more Check My Work uses remaining o L M a 41 Fees Eamed thart of Accounts 11 Cash 12 Accounts Receivable 13 Prepaid Rent 14 Supplies EXPENSES 51 Wages Expense 52 Rent Expense 53 Supplies Expense 54 Miscellaneous Expense LIABILITIES 21 Accounts Payable 22 Wages Payable 23 Unearned Fees EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends 34 Income Summary Theck My Work 4 more Check My Work uses remaining RE o O L M OG Journalize the four entries required to close the accounts Refer to the Chart of Accounts for exact wording of account thes JOURNAL ACCOUNTING EQUAT DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LADIUTIES 1 Closing Entries 3 I $ Previous Journal DATE POST. REF DERIT CREDIT LAUTAS DESCRIPTION Closing Entries 1 2 3 4 10 11 Previous Next