Create closing entries for the Donatello companies balance sheet DONATELLO COMPANY Balance sheet July 31,2014 Assets: Current

Create closing entries for the Donatello companies balance sheet

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DONATELLO COMPANY Balance sheet July 31,2014 Assets: Current Assets: Cash 24 4,650 Accounts Receivable 24 11,400 Prepaid Rent Supplies Total Current Assets Long-term Assets: Debt Investment(Long term) Property,plant and Equipment: Equipment Less:Accumulated Depreciation-Equipment Intangible Assets: %24 500 2$ 750 2$ 17,300 24 8,000 24 19,950 -%24 5,700 24 14,250 Patents 2$ 18,300 57,850 Total Assets 24 Liabilities and Owner's Equity: Current Liabilities Accounts Payable Interest Payable Unearned Revenue 24 4,245 24 750 2,050 Total Current Liabilities %24 7,045 Long-term Liabilities Notes Payable %24 45,000 Total Liabilities 24 52,045 Owner's Equity: Owner's Capital Total Liablities and Owners Equity 24 5,805 24 57,850 DONATELLO COMPANY Balance sheet July 31,2014 Assets: Current Assets: Cash 24 4,650 Accounts Receivable 24 11,400 Prepaid Rent Supplies Total Current Assets Long-term Assets: Debt Investment(Long term) Property,plant and Equipment: Equipment Less:Accumulated Depreciation-Equipment Intangible Assets: %24 500 2$ 750 2$ 17,300 24 8,000 24 19,950 -%24 5,700 24 14,250 Patents 2$ 18,300 57,850 Total Assets 24 Liabilities and Owner's Equity: Current Liabilities Accounts Payable Interest Payable Unearned Revenue 24 4,245 24 750 2,050 Total Current Liabilities %24 7,045 Long-term Liabilities Notes Payable %24 45,000 Total Liabilities 24 52,045 Owner's Equity: Owner's Capital Total Liablities and Owners Equity 24 5,805 24 57,850

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