Question
Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances). General Ledger Check Retained Earnings
Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances). General Ledger Check Retained Earnings Date May 31 Dividends Date: PR Debit G2 PR Debit May 31 G2 Account Number 318 Credit Balance 81,000 Account Number 319 Credit Balance - 54,000 Salaries Expense Date May 31 PR Debit Credit G2 Account Number 622 Balance 40,500 Insurance Expense Date PR Debit Credit Account Number 637 Balance Services Revenue Account Number 403 May 31 Rent Expense G2 3,640 Date PR Debit Credit Balance Date PR Debit May 311 G2 142,722 Depreciation Expense Date PR Debit Account Number 603 Credit May 31 G2 Balance 14,000 May 31 Income Summary Date 62 Account Number 640 Credit Balance: 7,880 PR Debit Account Number 901 Credit Balance ces (a) Prepare closing journal entries from the above ledger accounts. (b) Post the entries from Requirement (a) to the General Ledger accounts below. Use the transaction number from Requirement (a) as the date. Complete this questions by entering your answers in the tabs below. Required A Required B
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