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Please do the Genreal journal and ledgers Exercise 6.6 (Algo) Closing entries. LO 6-1 The ledger accounts of AXX Internet Company appear as follows on
Please do the Genreal journal and ledgers
Exercise 6.6 (Algo) Closing entries. LO 6-1 The ledger accounts of AXX Internet Company appear as follows on March 31, 20x1: ACCOUNT NO. ACCOUNT 101 Cash 111 Accounts receivable 121 Supplies 131 Prepaid insurance 141 Equipment 142 Accumulated depreciation-Equipment 202 Accounts payable 301 Aretha Hinkle, Capital 302 Aretha Hinkle, Drawing 401 Fees income 510 Depreciation expense-Equipment 511 Insurance expense 514 Rent expense 517 Salaries expense 518 Supplies expense 519 Telephone expense 523 Utilities expense BALANCE $ 80, eee 58,820 10,680 25,888 118, eee 41,320 13,000 130, eee 13,000 374,460 21,160 11,480 33,880 166, see 5,600 6,8ee 9, 4ee All accounts have normal balances. Required: 1. Prepare the closing entries. 2. Post the transactions into the appropriate ledger accounts. Hint: Be sure to enter beginning balances. Complete this question by entering your answers in the tabs below. General Journal Ledgers Prepare the closing entries. View transaction list Journal entry worksheetStep by Step Solution
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