From the following posted T accounts, reconstruct the closing journal entries for October 31, 201X. M. Figg,

From the following posted T accounts, reconstruct the closing journal entries for October 31, 201X.

Transcribed Image Text:

M. Figg, Capital Withdrawals 1,900 3,000 (0ct. 1) 750 Net Income Insurance Expense 150 Closing 150 M. Figg, Withdrawals 1,900 Closing 1,900 Wage Expense 800 Closing 800 Rent Expense 400 Closing 400 Income Summary Expenses 1,550 Revenue 2,300 Closing 750 Balance 750 Salon Fees Depreciation Expense, Equipment Closing 2,300 2,300 200 Closing 200