Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Use the following account balances from the adjusted trial balance of Gees Catering Debit Credit Account Balance Balance Cash 13,000 Accounts payable 2,000 R. Gees,

image text in transcribedimage text in transcribed Use the following account balances from the adjusted trial balance of Gees Catering Debit Credit Account Balance Balance Cash 13,000 Accounts payable 2,000 R. Gees, Capital 16,100 R. Gees, Drawing 1,000 Fees revenue 10,800 Salary expense 7,000 Rent expense 7,900 Supplies expense 6,000 Select the correct closing entry that Gees Catering would make to close the owner's withdrawal account at the end of the accounting period. Multiple Choice Account Name Debit Credit R. Gees, Drawing $1,000 R. Gees, Capital $1,000 Account Name Debit Credit R. Gees, Capital $1,000 R. Gees, Drawing $1,000 Account Name Debit Credit R. Gees, Drawing $1,000 Income Summary $1,000 Account Name Debit Credit Income summary $1,000 R. Gees, Drawing $1,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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 Tools for Business Decision Making

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

5th edition

978-1118128169

Students also viewed these Accounting questions