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Instructions Chart of Accounts Journal Instructions Rainbow Services Co. offers its services to individuais desiring to improve their personal images. After the accounts have been adjusted ut August 31, the end of the fiscal year, the following balances were taken from the Indigor ot Rainbow Services Retained Earnings Didends Fees Eamed Wages Expense Runt Expense Suppies Expanse Miscellaneous Expense $948.000 11,600 521400 479.000 71.500 11.300 14 250 Retained Earnings Instructions Journal JOURNAL ACCOUNTING DATE POST. REF. DESCRIPTION Closing Entries DEBIT CREDIT ASSETS LIABUTI 2 Fees Earned 521,400.00 5 521,400.00 479,600.00 71,500.00 Income Summary Income Summary Wages Expense Rent Expense Supplies Expense Miscellaneous Expense Income Summary Retained Earnings Retained Earrings 11,360.00 14.250.00 9 10 I 11 Previous Next