On October 25, 2019, the company paid $25,200 rent in advance for the six-month period (November 2019 through April 2020) On December 31, 2019, the ad ustment for expired rent would include: Mutiple Choice a $8,400 deblt to Rent Expense a $4200 credit to Cash. a $25,200 credit to Rant Expanso $4200 credit to Prepald Rent On December 31, 2019. the ledger of Lopez Company contained the following account balances: $12,280 47,258 2,188 15,780 2, 358 1,95e 4,888 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Maria Lopez, Capital $31,788 Maria Lopez, Drawing 2,258 Fees Income 1,458 Depreciation Expense 24,788 Salaries Expense 1,858 Supplies Expense 2,358 Telephone Expense 46,958 Utilities Expense Prepare the closing entries for the above transactions. View transaction list Journal entry worksheet Prepare the closing entry for revenue. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2019 Clear entry Record entry View general journal On December 31, 2019, the ledger of Lopez Company contained the following account balances: $12,280 47,25e 2,18e 15,780 2, 358 1,950 4,888 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Maria Lopez, Capital $31,788 Maria Lopez, Drawing 2,258 Fees Income 1,458 Depreciation Expense 24,788 Salaries Expense 1,858 Supplies Expense 2,358 Telephone Expense 46,958 Utilities Expense Prepare the closing entries for the above transactions. View transaction list Journal entry worksheet Prepare the closing entry for expenses. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2019 Clear entry Record entry View general journal On December 31, 2019, the ledger of Lopez Company contained the following account balances: $12,280 47,25e 2,180 15,780 2, 358 1,950 4,886 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Maria Lopez, Capital $31,788 Maria Lopez, Drawing 2,258 Fees Income 1,458 Depreciation Expense 24,788 Salaries Expense 1,858 Supplies Expense 2,358 Telephone Expense 46,958 Utilities Expense Prepare the closing entries for the above transactions. View transaction list Journal entry worksheet Prepare the closing entry for the balance of income summary. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2019 Clear entry Record entry View general journal On December 31, 2019, the ledger of Lopez Company contained the following account balances: $12,280 47,258 2,188 15,780 2, 358 1,950 4,888 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Maria Lopez, Capital $31,788 Maria Lopez, Drawing 2,258 Fees Income 1,458 Depreciation Expense 24,788 Salaries Expense 1,858 Supplies Expense 2,358 Telephone Expense 46,958 Utilities Expense Prepare the closing entries for the above transactions. View transaction list Journal entry worksheet Prepare the closing entry for the drawing account. Note: Enter debits before credits. Date Debit Credit Dec 31, 2019 Clear entry Record entry View general journal The Income Summary and Linda Carter, Copltal accounts for Carter Production Company at the end of its accounting period follow. Income Summary Account No. 399 Balance Date Description DebitCredit Debit Credit 2819 Dec. 31 Closing 31 Closing 31 Closing 65, 286 65, 28e 38,28e 35,886 38,286 inda Carter, Capital Account No. 381 Balance Date Description DebitCredit Debit Credit 2819 Dec. 111,880 38,286 111,886 141,286 131,18e 31 Closing 31 Closing 18,180 Enter the following amounts. 1. Total revenue for the period is 2. Total expenses for the period are 3. |Net income for the period is Owner's withdrawals for the period
