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Just need the ledger accounts filled out, thanks! Exercise 6.6 Closing entries. LO 6-1 The ledger accounts of AXX Internet Company appear as follows on
Just need the ledger accounts filled out, thanks!
Exercise 6.6 Closing entries. LO 6-1 The ledger accounts of AXX Internet Company appear as follows on March 31, 2019: ACCOUNT NO. ACCOUNT 101 Cash 111 Accounts Receivable 121 Supplies 131 Prepaid Insurance 141 Equipment 142 Accumulated Depreciation-Equipment 202 Accounts Payable 301 Aretha Hinkle, Capital 302 Aretha Hinkle, Drawing 401 Fees Income 510 Depreciation Expense-Equipment 511 Insurance Expense 514 Rent Expense 517 Salaries Expense 518 Supplies Expense 519 Telephone Expense 523 Utilities Expense BALANCE $ 61,000 35,460 8,700 23,100 99,000 39,420 11,100 111,000 11,100 299,800 19,260 9,500 31,100 147,000 3,700 4,900 7,500 All accounts have normal balances. Required: 1. Prepare the closing entries. 2. Post the transactions in to the appropriate ledger accounts. Hint: Be sure to enter beginning balancesStep by Step Solution
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