Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Miller Delivery Service completed the following transactions during December 2016 (Click the icon to view the transactions.) Read the resuirements Post the closing entries to

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Miller Delivery Service completed the following transactions during December 2016 (Click the icon to view the transactions.) Read the resuirements Post the closing entries to the T-accounts. Use "Clos." and the corresponding number as shown in the journal entry as posting references-"Clos (1)", "Clos (2)", etc. The adjusted balance of each account has been entered for you. Post any closing ontos to the accounts and then calculate the post-closing balance ("Bal.") of each account (including those that were not closed). For any accounts with a zero balance after closing, enter a "0" on the normal side of the account. For Income Summary, calculate and enter the balance ("Bal.") before posting the entry to close out the account. Post the entry to close Income Summary account on the same line as you entered the balance prior to closing the second line) and then show the post-closing balance ("Bal.") on the last (third) line of the account. Review the closing.journal entries you prepared above. Cash Accounts Payable Service Revenue Bal 22,900 21,150 Bal. O Bal Salaries Payable Choose from any list or enter any number in the input fields and then click Check Answer Closing journal entries Date Accounts Credit Debit 21,150 21,150 Dec. 31. Clos. (1) Dec. 31 Clos (2) 4,800 Service Revenue Income Summary Income Summary Salaries Expense Depreciation Expense Insurance Expense Fuel Expense Rent Expense Supplies Expense Income Summary 2,000 250 250 300 1,600 400 Dec. 31 16,350 Print Print Done Closing journal entries 21,150 Clos. (1) Dec. 31 Clos. (2) 4,800 Income Summary Income Summary Salaries Expense Depreciation Expense Insurance Expense Fuel Expense Rent Expense Supplies Expense Income Summary Retained Earnings Retained Earnings Dividends 2,000 250 250 300 1,600 400 16,350 16,350 Dec. 31 Clos. (3) Dec. 31 Clos. (4) 3,000 3,000 Print Print Done Done] Miller Delivery Service completed the following transactions during December 2016: (Click the icon to view the transactions.) Read the requirements Review the closing.journal entries you prepared above Cash Accounts Payable O Bal. Service Revenue 21,150 Bal. Bal. 22,900 L In Clos(1) Clos (2) Clos (3) Clos.(4) Salaries Payable 1,000 Ball Accounts Receivable Unearned Revenue Salaries Expense Choose from any list or enter any number in the input fields and then click Check Answer. Miller Delivery Service completed the following transactions during December 2016: (Click the icon to view the transactions.) Read the requirements Office Supplies 100 Common Stock 30,000 Bal. Depreciation Expense-Truck Bal. Bal. 250 Prepaid Insurance Retained Earnings Insurance Expense Bal 750 250 Choose from any list or enter any number in the input fields and then click Check Answer. 7 part remaining Clear All Miller Delivery Service completed the following transactions during December 2016: (Click the icon to view the transactions.) Read the requirements Truck 20,000 Fuel Expense 300 L Bal. Dividends Bal. 3,000 LLLL Bal. Income Summary Accumulated Depreciation-Truck 250 Bal. Bal. Rent Expense 1,600 Supplies Expense Choose from any list or enter any number in the input fields and then click Check Answer. 1 part Clear All Tv Miller Delivery Service completed the following transactions during December 2016: i (Click the icon to view the transactions.) Read the requirements. Dal. Uvuvi Income Summary Accumulated Depreciation-Truck 250 Bal. Rent Expense 1,600 Supplies Expense 400 Bal. Choose from any list or enter any number in the input fields and then click Check Answer. part remaining Clear All

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions

Question

What is management growth? What are its factors

Answered: 1 week ago