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need help on closing net income/ (loss) Brief Exercise 4-4 The ledger of Duston Company contains Supplies Expense $7,800. the following baiances: Owner's Capitial $30,100;
need help on closing net income/ (loss)
Brief Exercise 4-4 The ledger of Duston Company contains Supplies Expense $7,800. the following baiances: Owner's Capitial $30,100; owner's Drawings $2,800; Service Revenue $5 1,000; Salaries and Wages Expense $27,100; and Prepare the clasin g entries at December 31. (Credit account tities are automatically Indented when amount is entered. Do mot Indent manually.) Date Account Tites and Explanation Dec. 31 Service Revenue DebitCredit 1,000 income Summery 51 000 (To close nevenue account) Dec. 31 Income Summary satras Wages Expense 27,100 a close expense accounts) Dec. 31 Income Sommary (To close net incomel (oss) ta close net incomel (oss)) Dec. 31 owner's Capita Owner's Drawings 2,809 (Ta close drawings)Step by Step Solution
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