Selected accounts for Crane's Salon are presented below. All June 30 postings are from closing entries. Salaries
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Question:
Selected accounts for Crane's Salon are presented below. All June 30 postings are from closing entries.
Salaries and Wages Expense
6/10
3,200
6/28
5,960
Bal.
9,160
6/30
9,160
Supplies Expense
6/12
670
6/24
880
Bal.
1,550
6/30
1,550
Service Revenue
6/15
9,400
6/24
8,100
6/30
17,500
Bal.
17,500
Rent Expense
6/1
2,630
Bal.
2,630
6/30
2,630
Owner's Capital
6/30
2,240
6/1
12,000
6/30
4,160
Bal.
13,920
Owner's Drawings
6/13
1,000
6/25
1,240
Bal.
2,240
6/30
2,240
Date
Account Titles and Explanation
Debit
Credit
June 30
(To close revenue account)
June 30
(To close expense account)
June 30
(To close net income / (loss))
June 30
(To close drawings)
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