pelican company Thompson

post the general journal closing entries and income summary

On April 1, John Thompson opened Pelican Company. The company provides services to a variety of customers. The company was organized as a sole proprietorship and has a monthly accounting period. The following transactions occurred during April. Thompson invested $37,000 cash in the company The company paid $20,000 cash for equipment. The company paid $2,400 cash for the premlum on a 12-month Insurance policy Coverage begins on April 1 The company paid $2,900 cash to rent office The company purchased $100 of supplies on account. The company provided services to a customer and immediately received $8,000 cash. The company paid $980 cash for salary earned by an employee. The company provided $1,000 in services to a customer. The customer must pay within 30 days. The company paid $980 cash for salary earned by an employee. The company paid $170 cash for this month's utility bill. Thompson withdrew $2,000 cash from the company for personal use. Apr. 1 Apr. 1 Apr. 1 space for April. Apr. 2 Apr. 7 Apr. 14 Apr. 24 Apr. 28 Apr. 30 Apr, 30 The company's chart of accounts follows: CHART OF ACCOUNTS WITHDRAWALS ASSETS Owner Drawing Cash Accounts Receivable REVENUES Service Revenue Prepaid Insurance Equipment Accumulated Depreciation EXPENSES Salary Expense Rent Expense Supplies Expense Utility Expense Insurance Expense Depreciation Expense LIABILITIES Accounts Payable Salary Payable EQUITY Owner Capital CLEARING Income Summary Adjustment Data As of April 30, the company has incurred $140 of unpaid and unrecorded salary. As of April 30, one month of insurance coverage has expired. As of April 30, the company has $75 of supplies remaining. Depreciation on the company's equipment for the month is $400. 1. 2. 3. 4