Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

how to fill this journal entry ? Check My Work In preparing closing entries, recall that (1) Difference in revenue and expense account balances are

image text in transcribedimage text in transcribed

how to fill this journal entry ?

Check My Work In preparing closing entries, recall that (1) Difference in revenue and expense account balances are transterred to the owner's capital account; and (2) The balance of the owner's drawhy account is transterred to the owner's capital account. Instructiona the accountant tor Finders invessgabve Services prepared an end-ol-penod spreadshect a part of which follows: Finden investigative Services End-of Period Spreadaheet For the Year Ended June 30, 20Y3 - Adjustad Trial Balance Account Trle - Dr a Cash 20,300 Accounts Recelvabie - 69.400 Supolies 4600 Prepaid insurance 2500 Bulding 43000 Acamulahed Depreciation-8ulding - Acoouns Payable - 11,600 Sabres Payable 3.000 Unearned Rent 1,800 Stacy Tanner, Capital 372.000 Stacy Tanner, Drawing 11,900 Service fees 708.650 Rent Revenue - 11.900 Salaries Expense - 523.900 Rent Expense 47.600 Supples Expenso 10,800 Depreciason Expense-Bulding - 7,500 Utries Expense - 7280 Repain Expense heurance Expense 2.800 Mscelaneous Expense (-) 2,800 - 5.600 1,150.9501,150,950 Requitred: 1. Prepare an income statement, a statement of owner's equily ino

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

Auditing Theory And Practice

Authors: Jerry R. Strawser, Robert H. Strawser

9th Edition

0873939336, 978-0873939331

More Books

Students also viewed these Accounting questions