Using the totals from your adjusted trial balance record your Closing Entries in the space below and Post to the General Ledger. Thank you!
1. Journal entries: Credit No 1 Date Nov.1 Account Title Cash Computer Equipment T.Lambert, Capital $ $ Debit 35,000 16,800 $ 51,800 2 Nov.2 $ 1,800 Rent Expense Cash $ 1,800 3 Nov.3 $ 2,100 Office Supplies Cash $ 2,100 4 Nov.10 $ 3,000 Prepaid Insurance Cash $ 3,000 5 Nov.12 $ $ 1,000 Office Supplies Accounts Payable $ 1,000 6 Nov.14 $ 2,200 Salaries Expense Cash $ 2,200 7 Nov.24 $ 26,000 Cash Commissions Earned $ 26,000 8 8 Nov.28 $ Salaries Expense Cash 2,300 $ 2,300 9 Nov.29 $ 500 Computer Equipment Cash $ 500 10 Nov.30 $ 850 Utilities Expense Cash $ 850 11 Nov.30 $ 700 T.Lamber, Withdrawals Cash $ 700 Adjusted trial balance Debit Credit Cash $47550 Accounts receivables $3080 Office supplies $1400 Prepaid insurance $1500 Computer equipment $17300 $300 Accumulated depreciation- comp equip Accounts payable $1000 Salaries payable $400 Tlambert capital $51800 Tlambert withdrawals $700 Commissions earned $29080 $300 Depreciation expense comp equip Supplies expense $1700 Salaries expense $4900 Insurance expense $1500 Rent expense $1800 Utilities expense $850 Total $82,580 $82,580 Part 8 Using the totals from your adjusted trial balance record your closing entries in the space below and post to the General Ledger, (Use the attached General Ledger on pages 3-5). Closing Entries DATE ACCOUNT TITLE DEBIT CREDIT 11 General Ledger Acct. No. 106 Cash Acct. No. 101 Prepaid Insurance Debit Credit Date Debit Balance Credit Balance Date Novliol 3000 3000 15C Nov Acct. No. 110 Noll 35000 2 O 1800 3 2100 lo Scoo 14 2200 241 26000 28 O 2300 129 O STO 850 700 35000 33200 3110o 128100 25900 51900 149600 49100 48 250 47550 Computer Equipment Debit Credit Date Balance Nov 29 16800 1680 17300 500 Accounts Receivable Acct. No 102 Acct. No. 111 Accumulated Depreciation-Comp. Equip. Date Debit Credit Date Debit Credit Balance Balance Noul 3080 3080 Noul Boo 300 Supplies Acct. No. 104 Acct. No. 302 Date Debit Income Summary Debit Credit Credit Balance Date Balance Nov 3 12 Noul 2100 1ooo O 2100 3100 1400 1700 General Ledger (Con't) Acct. No. 300 Acct. No. 205 Accounts Payable Debit Credit T. Lambert, Capital Debit Credit Balance Date Balance Date Nov1 518005180 Acct. No. 208 T. Lambert, Withdrawal Acct. No. 301 Salaries Payable Debit Credit Date Balance Date Debit Credit Balance O 400 I Nov 30 700 700 General Ledger (Con't) Commissions Earned Acct. No. 400 Acct. No. 508 Date Debit Credit Supplies Expense Debit Credit Balance Date Balance I Nov 24 O 26000 26000 308 29080 Kaz|e2leo Olieboe Novl 1700 2890 380 roo Acct. No. 510 Salaries Expense Debit Credit Date Balance Depreciation Expense-Comp. Acct. No. 502 O 2200 usoo Date Debit Credit Nulig 2200 128 2300 Nov 400 Balance 0 4900 Nov 300 300 Acct. No. 512 Utilities Expense Debit Credit Date Balance Insurance Expense Acct. No. 504 Date Debit Credit Balance Nov 30 850 O &SO Nov 150 IS20 Acct. No. 506 Computer Repair Expense Acct. No. 518 Rent Expense Debit Credit Date Balance Date Debit Credit Balance Nov 2 1800 o 1800
