Answered step by step
Verified Expert Solution
Question
1 Approved Answer
what would be the income summary? Selected accounts for Tamora's Salon are presented below. All June 30 postings are from dosing entries. Salaries and Wages
what would be the income summary?
Selected accounts for Tamora's Salon are presented below. All June 30 postings are from dosing entries. Salaries and Wages Expense 6/10 3,200 6/28 5,600 Bal 8.800 | 6/30 8.800 Supplies Expense 6/12 600 6/24 700 Bal 1.300 6130 1.300 Service Revenue 6/15 9.700 6/24 5.400 6/30 18.100 Bal 18.100 Rent Expense 6/1 3,000 Bal 3,000 6:30 3.000 Owner's Capital 6.30 2,500 671 12.000 5/30 5.000 14.500 Owner's Drawings 6/13 1.000 6/25 1.500 Bal 2.500 | 6/30 2.500 Date Account Titles and Explanation Debit Debit Credit June 30 Service Revere 18:00 no Somary 16100 (To close revenue account) June 30 Income Summary Salaries and Wages pende 8800 Rent Expense 9000 Succes Diese 9300 II DO NOT O (To dose expense account) June 30 June 30 Income Sommary 5000 Owners Capital (To close net income / Closs)) 3300 June 30 OwnCapital 2800 Ons (To dore drawings Post the closing entries to income Summary. (Post entries in the order of journal entries posted in the previous part of the question Income Summary Jun 30 V 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