Victoria Lee Company had the following adjusted trial balance. Victoria Lee Company Adjusted Trial Balance For...
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Victoria Lee Company had the following adjusted trial balance. Victoria Lee Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,712 Accounts Receivable 3,904 Supplies 480 Accounts Payable $1,382 Unearned Service Revenue 160 Owner's Capital 5,760 Owner's Drawings 550 Service Revenue 4,300 Salaries and Wages Expense 1,260 Miscellaneous Expense 256 Supplies Expense 1,900 Salaries and Wages Payable 460 $12,062 $12,062 v (a) Prepare closing entries at June 30, 2020. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Debit Credit No. Account Titles and Explanation 1. (To close revenue account) 2. (To close expense accounts) (To close net income/ (loss)) 4. (To close drawings) 3. Victoria Lee Company had the following adjusted trial balance. Victoria Lee Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,712 Accounts Receivable 3,904 Supplies 480 Accounts Payable $1,382 Unearned Service Revenue 160 Owner's Capital 5,760 Owner's Drawings 550 Service Revenue 4,300 Salaries and Wages Expense 1,260 Miscellaneous Expense 256 Supplies Expense 1,900 Salaries and Wages Payable 460 $12,062 $12,062 v (a) Prepare closing entries at June 30, 2020. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Debit Credit No. Account Titles and Explanation 1. (To close revenue account) 2. (To close expense accounts) (To close net income/ (loss)) 4. (To close drawings) 3.
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Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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