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The adjusted ledger accounts of Walken Architecture on December 31, 20X1, appear as follows. Account Name Balance Cash 13,600 Accounts receivable 3,600 Supplies 3,300 Prepaid
The adjusted ledger accounts of Walken Architecture on December 31, 20X1, appear as follows.
Account Name | Balance | ||
Cash | 13,600 | ||
Accounts receivable | 3,600 | ||
Supplies | 3,300 | ||
Prepaid insurance | 1,600 | ||
Building | 27,200 | ||
Accumulated depreciationBuilding | 4,500 | ||
Accounts payable | 5,600 | ||
L. Walken, Capital | 34,200 | ||
L. Walken, Drawing | 8,200 | ||
Fees income | 25,800 | ||
Advertising expense | 1,700 | ||
Insurance expense | 1,400 | ||
Depreciation expenseBuilding | 1,300 | ||
Wages expense | 6,000 | ||
Utilities expense | 2,200 | ||
Prepare the Balance Sheet and Income Statement columns of the worksheet. Prepare the closing entries for Walken Architecture on December 31, 20X1. All accounts have normal balances and adjusting entries have been made.
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