Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Make the following entries in the general journa 1. At the close of accounts, sales have a balance of $12,000. 2. Camino Real has a

Make the following entries in the general journa

1. At the close of accounts, sales have a balance of $12,000.

2. Camino Real has a balance in its advertising expense account of $5,200 at the end of December and should be closed.

3. Pollo Real food company had a salary expense of $13,000 on March 31 and closing entries are being made.

4. Prendas Mias purchased a computer for cash of $1,500.

5. Camino Real has a balance of $2,000 in the sales account at the end of the accounting cycle.

6. La Esquina store purchased prepaid insurance on February 2 for $10,000.

7. The owner of Pollo Real made personal withdrawals of $3,000 during April and closing entries are being made.

8. Martinez Rental had a customer who was offered service on credit for $1,800.

9. Jorge Roman started a business under the name Car Cleaning. After adjustments in December 2020 the following balances were recorded in the ledger for each account.

Jorge Romn, capital $180,000
Jorge Romn, drawing 2,500
Service fee 20,000
Salary expense 60,000
Rent expense 14,000
Supplies expense 12,500
Miscellaneous expense

5,000

10, The total income summary account at La Esquina Company is $25,000 in credit. Make the journal entry to bring the amount to capital.

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

Step: 3

blur-text-image

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

IT And European Bank Performance

Authors: E. Beccalli

1st Edition

0230006949, 9780230006942

More Books

Students also viewed these Accounting questions