After the accounts have been adjusted at October 31, the end of the fiscal year, the following
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balances were taken from the ledger of Smart Delivery Services Co.:
Fraser Smart, Capital..................... $3,550,000
Fraser Smart, Drawing........................ 40,000
Fees Earned................................. 1,145,000
Wages Expense............................... 740,000
Rent Expense................................... 65,000
Supplies Expense.............................. 14,750
Miscellaneous Expense.........................8,800
Journalize the four entries required to close the accounts.
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Related Book For
Financial Accounting
ISBN: 978-1305088436
14th edition
Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac
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