Selected accounts for Nina's Salon are presented below. All June 30 postings are from closing entries.

Salaries Expense					Service Revenue
6/10	3,200	6/30	8,800		6/30	15,100	6/15	6,700
6/28	5,600						6/24	8,400

Retained Earnings					Supplies Expense
6/30	2,500	6/1	12,000		6/12	600	6/30	1,300
		6/30	2,000		6/24	700
		Bal.	11,500

Rent Expense					Dividends
6/1	3,000	6/30	3,000		6/13	1,000	6/30	2,500
					6/25	1,500

Instructions

(a) Prepare the closing entries that were made. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.)

Description/Account	Debit	Credit
Supplies Expense Rent Expense Retained Earnings Dividends Service Revenue Income Summary Salaries Expense
Service Revenue Dividends Salaries Expense Supplies Expense Rent Expense Retained Earnings Income Summary
(To close revenue.)
Service Revenue Supplies Expense Rent Expense Salaries Expense Retained Earnings Dividends Income Summary
Supplies Expense Service Revenue Rent Expense Retained Earnings Income Summary Dividends Salaries Expense
Retained Earnings Service Revenue Dividends Rent Expense Income Summary Salaries Expense Supplies Expense
Supplies Expense Dividends Service Revenue Retained Earnings Income Summary Salaries Expense Rent Expense
(To close expenses.)
Dividends Retained Earnings Supplies Expense Income Summary Service Revenue Salaries Expense Rent Expense
Retained Earnings Rent Expense Salaries Expense Service Revenue Supplies Expense Income Summary Dividends
(To close net income to retained earnings.)
Service Revenue Dividends Rent Expense Retained Earnings Income Summary Salaries Expense Supplies Expense
Retained Earnings Income Summary Rent Expense Salaries Expense Supplies Expense Dividends Service Revenue
(To close dividends to capital.)

(b) Post the closing entries to Income Summary.

Income Summary
June 30		June 30
June 30	2,000

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