Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please journalize the closing entries from the attached 10- column worksheet. Use the attached template to complete your General Journal. Cash Prepaid Insurance Supplies

Please journalize the closing entries from the attached 10- column worksheet. Use the attached template to Cash Prepaid Insurance Supplies Automobile Accum, Depr. Franki Valley, Capital Franki Valley, Drawing A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 A 2018 Date B General Journal Account Titles Closing

Please journalize the closing entries from the attached 10- column worksheet. Use the attached template to complete your General Journal. Cash Prepaid Insurance Supplies Automobile Accum, Depr. Franki Valley, Capital Franki Valley, Drawing Commission Revenue Depreciation expense Supplies expense Insurance expense net income Unadjusted Trial Balance Adjustments Debit Credit Debit Credit 10375 1000 225 15000 400 0 0 1000 18000 8000 0 27000 27000 c) 1000 a) 50 B) 200 1250 b) 200 a) 50 c) 1000 1250 Adjusted Trial Balance Debit Credit Debit Credit 10375 800 175 15000 400 1000 50 200 28000 2000 18000 8000 Income 28000 Statement 1000 50 8000 Balance Sheet 1 Owner's Equity Debit Credit 10375 800 175 15000 400 200 1250 8000 26750 6750 2000 18000 20000 6750 8000 8000 26750 26750 A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 A 2018 Date B General Journal Account Titles Closing Entries C PR D DEBIT E CREDIT

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Closing Entries Date Account Titles Debit Credit 20181231 Income Summary 8000 20181231 Supplies Expense 50 20181231 Insurance Expense 200 20181231 Dep... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting A Contemporary Approach

Authors: David Haddock, John Price, Michael Farina

3rd edition

77639731, 978-0077639730

More Books

Students also viewed these Accounting questions

Question

What is the project B s IRR? 1 6 . 0 0 % 1 5 . 6 1 % 1 5 . 2 4 %

Answered: 1 week ago

Question

What is an audit trail? Why is it desirable to have an audit trail?

Answered: 1 week ago