Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The partial worksheet for the Jamison Company showed the following data on October 31, 2019 ACCOUNT NAME Jason Jamison, Capital Jason Jamison, Drawing Fees Income
The partial worksheet for the Jamison Company showed the following data on October 31, 2019 ACCOUNT NAME Jason Jamison, Capital Jason Jamison, Drawing Fees Income Salaries Expense Rent Expense Supplies Expense Utilities Expense Depr. Exp. -Equip. Totals Net Income INCOME BALANCE STATEMENT SHEET DEBIT CREDIT DEBIT CREDIT 33,000 3,000 23,000 11,600 1,300 700 809 1,150 15,550 23,000 44,650 37,200 7,450 7,450 23,000 23,000 44,650 44,650 Prepare the closing entries for Jamison Company on October 31, 2019. View transaction list Journal entry worksheet 1 2 3 4 Record entry to transfer fees income to income summary. Note: Enter debits before credits. Date General Journal Debit Credit Oct 31, 2019 Record entry Clear entry View general journal Record entry to transfer expenses to income summary. Note: Enter debits before credits. General Journal Debit Credit Date Oct 31, 2019 Record entry Clear entry View general journal Record entry to transfer net income or net loss from income summary to capital. Note: Enter debits before credits. General Journal Debit Credit Date Oct 31, 2019 Record entry Clear entry View general journal Record entry to transfer drawings to capital account. Note: Enter debits before credits. Date General Journal Debit Credit Oct 31, 2019 Record entry Clear entry View general journal
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