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how would i prepare closing entries using this information Accounts Debit Credit Cash 37,700 Prepaid Insurance 4,400 Supplies 250 Equipment 7,800 Accounts Payable 7,650 Common
how would i prepare closing entries using this information
Accounts | Debit | Credit |
Cash | 37,700 | |
Prepaid Insurance | 4,400 | |
Supplies | 250 | |
Equipment | 7,800 | |
Accounts Payable | 7,650 | |
Common Stock | 40,000 | |
Dividends | 1,100 | |
Tax Preperation Revenue | 8,900 | |
Rent Expense | 3,600 | |
Salary Expense | ||
Electricity Bill | 500 | |
Telephone Bill | 300 | |
Income tax expense | 95 | |
Supplies | 200 | |
Income taxes payable | 95 | |
Depreciation Expenses | 160 | |
Repair Expenses | 300 | |
Insurance expenses | 400 | |
Accumulated Depreciation | 160 | |
Total | 56,805 | 56,805 |
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