Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Salaries and Wages Expense 1,200 Miscellaneous Expense 200 Supplies Expense 1,700 Salaries and Wages Payable 400 $11,100 $11,100 Prepare closing entries at June 30, 2022.
Salaries and Wages Expense 1,200 Miscellaneous Expense 200 Supplies Expense 1,700 Salaries and Wages Payable 400 $11,100 $11,100 Prepare closing entries at June 30, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit June 30 (To close revenue account) June 30 (To close expense accounts) June 30 (To close net income / (loss)) June 30 (To close dividends) Salaries and Wages Expense 1,200 Miscellaneous Expense 200 Supplies Expense 1,700 Salaries and Wages Payable 400 $11,100 $11,100 Prepare closing entries at June 30, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit June 30 (To close revenue account) June 30 (To close expense accounts) June 30 (To close net income / (loss)) June 30 (To close dividends)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started