Prepare the closing entries for Alert Security Services Co. Refer to the Chart of Accounts for correct wording of account titles.

Alert Security Services Co. offers security services to business clients.

Based on the end-of-period spreadsheet, prepare the closing entries for Alert Security Services Co.

Alert Security Services Co.

End-of-Period Spreadsheet

For the Year Ended October 31, 2016

1		Adjusted	Adjusted
2		Trial Balance	Trial Balance	Income Statement	Income Statement	Balance Sheet	Balance Sheet
3	Account Title	Debit	Credit	Debit	Credit	Debit	Credit
4	Cash	12.00
5	Accounts Receivable	103.00
6	Supplies	4.00
7	Prepaid Insurance	2.00
8	Land	190.00
9	Equipment	50.00
10	Accumulated Depreciation-Equipment		7.00
11	Accounts Payable		36.00
12	Wages Payable		1.00
13	Brenda Schultz, Capital		260.00
14	Brenda Schultz, Drawing	8.00
15	Fees Earned		213.00
16	Wages Expense	111.00
17	Rent Expense	12.00
18	Insurance Expense	10.00
19	Utilities Expense	6.00
20	Supplies Expense	4.00
21	Depreciation Expense	3.00
22	Miscellaneous Expense	2.00
23		$517.00	$517.00
24	Net income (loss)

CHART OF ACCOUNTS

Alert Security Services Co.

General Ledger

	ASSETS
11	Cash
12	Accounts Receivable
13	Supplies
14	Prepaid Insurance
15	Land
16	Equipment
17	Accumulated Depreciation-Equipment

	LIABILITIES
21	Accounts Payable
22	Wages Payable

	EQUITY
31	Brenda Schultz, Capital
32	Brenda Schultz, Drawing
33	Income Summary

Prepare the closing entries for Alert Security Services Co. Refer to the Chart of Accounts for correct wording of account titles.

PAGE 11

JOURNAL

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
1		Closing Entries
2
3
4
5
6
7
8
9
10
11
12
13
14
15

	REVENUE
41	Fees Earned

	EXPENSES
51	Wages Expense
52	Rent Expense
53	Insurance Expense
54	Utilities Expense
55	Supplies Expense
56	Depreciation Expense
57	Miscellaneous Expense