Selected accounts for Lee s Salon at December 31, 2021, are presented below Instructions a Prepare closing entries to close the accounts b Post the entries A Lee, Capital A Lee, Drawings Cr Service Revenue Dr Cr Dr Dr C 30,000 2,000 50,000 Salaries Expense Rent Expense Supplies Expense Cr Cr Cr Dr ...

a Dec 31 Service Revenue 50000 Income Summary 50000 To close reve ...

Selected accounts for Lee?s Salon at December 31, 2021, are presented below. Instructions a. Prepare closing entries

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Selected accounts for Lee?s Salon at December 31, 2021, are presented below.

Instructions

a. Prepare closing entries to close the accounts.

b. Post the entries.

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Accounting Principles Volume 1

ISBN: 978-1119502425

8th Canadian Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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Question Posted: Feb 21, 2020 10:29 AM

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Selected accounts for Lee?s Salon at December 31, 2021, are presented below. Instructions a. Prepare closing entries

Question:

A. Lee, Capital A. Lee, Drawings Cr. Service Revenue Dr. Cr. Dr. Dr. Cг. 30,000 2,000 50,000 Salaries Expense Rent Expense Supplies Expense Cr. Cr. Cr. Dr. Dr. Dr. 21,000 6,000 7,000

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Accounting Principles Volume 1

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