The ledger accounts of AXX Internet Company appear as follows on March 31, 2019: All accounts have
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All accounts have normal balances. Journalize and post the closing entries. Use 4 as the page number for the general journal in journalizing the closing entries. Use account number 399 for the Income Summary account.
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ACCOUNT NO. ACCOUNT BALANCE $ 40,000 101 Cash 111 Accounts Receivable 29,910 Supplies 121 5,300 131 Prepald Insurance 12,500 141 Equipment 59,000 142 Accumulated Depreciation-Equipment Accounts Payable 20,660 202 7,000 65,000 301 Aretha Hinkle, Capital Aretha Hinkle, Drawing 302 6,500 401 Fees Income 187,230 510 Depreciation Expense-Equipment 10,580 5,700 511 Insurance Expense 514 Rent Expense 16,500 517 Salarles Expense 83,000 518 Supplies Expense 2,800 Telephone Expense 519 3,400 Utilities Expense 523 4,700
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GENERAL JOURNAL PAGE 4 DATE DESCRIPTION POST REF DEBIT CREDIT 1 Closing Entries 1 2 2019 2 3 Mar 31 Fees Income 401 187 2 3 0 00 3 4 Income Summary 39...View the full answer
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Related Book For
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
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