Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sunland Company had the following adjusted trial balance Sunland Company Adjusted Trial Balance For the Month Ended June 30, 2022 Adjusted Trial Balance Account

image text in transcribedimage text in transcribed

Sunland Company had the following adjusted trial balance Sunland Company Adjusted Trial Balance For the Month Ended June 30, 2022 Adjusted Trial Balance Account Titles Debit Credit Cash $3,740 Accounts Receivable 3,770 Supplies 430 Accounts Payable Unearned Service Revenue Owner's Capital $2.000 200 4,840 Owner's Drawings 580 Service Revenue 5,100 Salaries and Wages Expense 1,500 Miscellaneous Expense 280 Supplies Expense 2,460 Salaries and Wages Payable. 620 $12.760 $12.760 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.) No. Account Titles and Explanation 1. 2. (To close revenue account) 3 4. (To close expense accounts) (To dose net income/(loss)) (To close drawings) Debit Credit 4

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Accounting What the Numbers Mean

Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele

10th edition

9780077515904, 007802529X, 77515900, 978-0078025297

More Books

Students also viewed these Accounting questions