Answered step by step
Verified Expert Solution
Link Copied!

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

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

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

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 Custom Edition For National American University

Authors: Charles T. Horngren, Walter T. Harrison Jr, M. Suzanne Oliver

9th Edition

1256297585, 978-1256297581

More Books

Students also viewed these Accounting questions

Question

Outline Platos conflict model of mental disorders.

Answered: 1 week ago