Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Sunland company shows the following balances in selected accounts of its adjusted trial balance. Supplies 32,400. Service Revenue 109,000 Supplies expense 6,500. Salaries and Wages
Sunland company shows the following balances in selected accounts of its adjusted trial balance.
NEXT Do It! Review 4-02 Sunland Company shows the following balances in selected accounts of its adjusted trial balance. Supplies $32,400Service Revenue $109,000 Supplies Expense6.500 Sataries and wages tbx Accounts Receivable12,400 Utilities Expense Owner's Drawings22,800 Rent Expense Owner's Capital 7.900 17,800 mnnumaanuim 79,000 ournalize the closing entries at December 31. (Credit account titles are automatically indented when amount is entered, Do not indent man Date Account Titles and Explanation Debit Credit Dec 31 To close revenue account) Dec. 31 (To close expense accounts) Dec. 31 (To close net income / Coss)) Dec. 31 (To close drawings) SHOW LIST OF ACCOUNTS Supplies 32,400.
Service Revenue 109,000
Supplies expense 6,500.
Salaries and Wages Expense 40,600
Account Receivable 12,400
Utilities Expense 7,900
Owners Drawings 22,800
Owners Capital 79,000
Rent expense 17,800
Journalize the closing entries at December 31.
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