Question
Make the following entries in the general journal (30 points) 1. At the closing of the accounts, the sales have a balance of $ 12,000.
Make the following entries in the general journal (30 points)
1. At the closing of the accounts, the sales have a balance of $ 12,000. (2 points)
2. The Camino Real company has a balance in its advertising expense account of $ 5,200 at the end of December and must be closed. (2 points) 3. At the Pollo Real food company there was a salary expense of $ 13,000 on March 31 and the closing entries are being made. (2 points)
4. Prendas Mas bought a computer for cash for $ 1,500. (2 points)
5. Camino Real has a balance of $ 2,000 in the sales account at the end of the accounting cycle. (2 points)
6. La Esquina store purchased prepaid insurance on February 2 for $ 10,000. (2 points)
7. The owner of Pollo Real made personal withdrawals of $ 3,000 during the month of April and closing entries are being made. (2 points)
8. Martnez Rental had a client who was offered a credit service for $ 1,800. (2 points)
9. Jorge Romn started a business by the name of Car Cleaning. After the adjustments in December 2020 the following balances were registered in the ledger of each account. (12 points) Jorge Romn, capital $ 180,000 Jorge Roman, 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 of the income summary account (income less expenses) in the company La Esquina is $ 25,000 in credit. Make the wage entry to bring the amount to the capital.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started