On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: 101 Cash 111 Accounts Receivable 121 Supplies 131 Prepaid Rent 141 Equipment 142 Accumulated Depreciation-Equip. 202 Accounts Payable 301 Emilio Gonzalez, Capital (12/1/2019) 302 Emilio Gonzalez, Drawing 401 Fees Income 511 Advertising Expense 514 Depreciation Expense-Equip. 517 Rent Expense 519 Salaries Expense 523 Utilities Expense $ 94,400 Dr. 35,600 Dr. 8,000 Dr. 81,200 Dr. 128,000 Dr. 4,000 Cr. 17,000 Cr. 131,240 Cr. 16,400 Dr. 327, 200 Cr. 11,600 Dr. 2,000 Dr. 9,200 Dr. 77,600 Dr. 15,440 Dr. Required: 1. Journalize the closing entries in the general journal. 2. Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. Analyze: What is the balance of the Salaries Expense account after closing entries are posted? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze Journalize the closing entries in the general journal. View transaction list Journal entry worksheet On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: 101 Cash 111 Accounts Receivable 121 Supplies 131 Prepaid Rent 141 Equipment 142 Accumulated Depreciation-Equip. 202 Accounts Payable 301 Emilio Gonzalez, Capital (12/1/2019) 302 Emilio Gonzalez, Drawing 491 Fees Income 511 Advertising Expense 514 Depreciation Expense-Equip. 517 Rent Expense 519 Salaries Expense 523 Utilities Expense $ 94,400 Dr. 35,600 Dr 8,000 Dr. 81,200 Dr. 128,000 Dr 4,000 Cr. 17,000 Cr. 131,240 Cr. 16,400 Dr. 327,200 Cr. 11,600 Dr 2,000 Dr. 9,200 Dr. 77,600 Dr. 15,440 Dr. Required: 1. Journalize the closing entries in the general journal. 2. Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. Analyze: What is the balance of the Salaries Expense account after closing entries are posted? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze Journalize the closing entries in the general journal. View transaction list Journal entry worksheet Record the closing entry for expenses. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31, 2019 Record entry Clear entry View general journal NEY Nequcuz On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: 101 Cash 111 Accounts Receivable 121 Supplies 131 Prepaid Rent 141 Equipment 142 Accumulated Depreciation-Equip. 202 Accounts Payable 301 Emilio Gonzalez, Capital (12/1/2019) 302 Emilio Gonzalez, Drawing 401 Fees Income 511 Advertising Expense 514 Depreciation Expense-Equip. 517 Rent Expense 519 Salaries Expense 523 Utilities Expense $ 94,400 Dr. 35,600 Dr. 8,900 Dr. 81,200 Dr 128,000 Dr. 4,000 Cr 17,000 Cr. 131,240 Cr 16,400 Dr 327,200 Cr 11,600 Dr. 2,000 Dr. 9,200 Dr. 77,600 Dr 15,440 Dr Required: 1. Journalize the closing entries in the general Journal 2. Post the closing entries to the general ledger accounts. Hint. Be sure to enter beginning balances. Analyze: What is the balance of the Salaries Expense account after closing entries are posted? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze Journalize the closing entries in the general journal. View transaction list Journal entry worksheet Record the closing entry for the balance of income summary. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31, 2019 Record entry Clear entry View general journal On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: 101 Cash 111 Accounts Receivable 121 Supplies 131 Prepaid Rent 141 Equipment 142 Accumulated Depreciation-Equip. 202 Accounts Payable 301 Emilio Gonzalez, Capital (12/1/2019) 302 Emilio Gonzalez, Drawing 401 Fees Income 511 Advertising Expense 514 Depreciation Expense-Equip. 517 Rent Expense 519 Salaries Expense 523 Utilities Expense $ 94,400 Dr. 35,600 Dr. 8,000 Dr. 81,200 Dr. 128,000 Dr. 4,000 Cr. 17,000 Cr. 131, 240 Cr. 16,400 Dr. 327,200 Cr. 11,600 Dr. 2,000 Dr. 9,200 Dr. 77,600 Dr. 15,440 Dr. Required: 1. Journalize the closing entries in the general journal. 2. Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. Analyze: What is the balance of the Salaries Expense account after closing entries are posted? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze Journalize the closing entries in the general journal. View transaction list Journal entry worksheet Record the closing entry for the drawing account. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2019 Record entry Clear entry View general journal On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: 101 Cash 111 Accounts Receivable 121 Supplies 131 Prepaid Rent 141 Equipment 142 Accumulated Depreciation-Equip. 202 Accounts Payable 301 Emilio Gonzalez, Capital (12/1/2019) 302 Emilio Gonzalez, Drawing 401 Fees Income 511 Advertising Expense 514 Depreciation Expense-Equip. 517 Rent Expense 519 Salaries Expense 523 Utilities Expense $ 94,480 Dr. 35,600 Dr. 8,000 Dr. 81,200 Dr. 128,000 Dr. 4,000 Cr. 17,000 Cr. 131,240 Cr. 16,489 Dr. 327,280 Cr. 11,600 Dr. 2,000 Dr. 9,200 Dr. 77,609 Dr. 15,440 Dr. Required: 1. Journalize the closing entries in the general Journal 2. Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. Analyze: What is the balance of the Salaries Expense account after closing entries are posted? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. Account No. 301 Credit Balance Account No. 302 Credit Balance Emilio Gonzalez, Capital Date Debit Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Emilio Gonzalez, Drawing Date Debit Dec 31, 2019 Dec 31, 2019 Account No. 399 Account No. 401 Credit Balance Credit Balance Income Summary Date Debit Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Fees Income Date Debit Dec 31, 2019 Dec 31, 2019 Advertising Expense Account No. 511 Account No. 514 Debit Credit Balance Depreciation Expense- Equipment Date Debit Dec 31, 2019 Dec 31, 2019 Credit Date Dec 31, 2019 Dec 31, 2019 Balance Account No. 517 Credit Balance Rent Expense Date Debit Dec 31, 2019 Dec 31, 2019 Salaries Expense Date Debit Dec 31, 2019 Dec 31, 2019 Account No. 519 Credit Balance Account No. 523 Credit Balance Utilities Expense Date Debit Dec 31, 2019 Dec 31, 2019 On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: 101 Cash 111 Accounts Receivable 121 Supplies 131 Prepaid Rent 141 Equipment 142 Accumulated Depreciation-Equip. 202 Accounts Payable 301 Emilio Gonzalez, Capital (12/1/2019) 302 Emilio Gonzalez, Drawing 401 Fees Income 511 Advertising Expense 514 Depreciation Expense-Equip. 517 Rent Expense 519 Salaries Expense 523 Utilities Expense $ 94,400 Dr. 35,600 Dr. 8,000 Dr. 81,200 Dr. 128,000 Dr. 4,000 Cr. 17,000 Cr. 131,240 Cr. 16,400 Dr. 327,200 Cr. 11,600 Dr. 2,000 Dr. 9,200 Dr. 77,600 Dr. 15,440 Dr. Required: 1. Journalize the closing entries in the general journal. 2. Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. Analyze: What is the balance of the Salaries Expense account after closing entries are posted? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze What is the balance of the salaries expense account after closing entries are posted? Salaries expense