Question: Prepare the necessary closing entries based on the following selected accounts. Accumulated Depreciation......................................................$10,000 Depreciation Expense..................................................................4,000 Owner's Capital..........................................................................20,000 Owner's Drawings......................................................................12,000 Salaries and Wages Expense.....................................................18,000 Service Revenue..........................................................................31,000
Prepare the necessary closing entries based on the following selected accounts.
Accumulated Depreciation......................................................$10,000
Depreciation Expense..................................................................4,000
Owner's Capital..........................................................................20,000
Owner's Drawings......................................................................12,000
Salaries and Wages Expense.....................................................18,000
Service Revenue..........................................................................31,000
Step by Step Solution
3.50 Rating (167 Votes )
There are 3 Steps involved in it
Service Revenue 31000 Income Summary 31000 I... View full answer
Get step-by-step solutions from verified subject matter experts
Document Format (1 attachment)
1368-B-M-A-V-C(1928).docx
120 KBs Word File