Exercise 4-11 a-b

Selected accounts for Cullumbers Salon are presented below. All June 30 postings are from closing entries.

Salaries and Wages Expense
6/10	3,100
6/28	5,790
Bal.	8,890	6/30	8,890
Supplies Expense
6/12	560
6/24	740
Bal.	1,300	6/30	1,300
Service Revenue
		6/15	9,100
		6/24	8,500
6/30	17,600	Bal.	17,600
Rent Expense
6/1	2,660
Bal.	2,660	6/30	2,660
Owners Capital
6/30	2,960	6/1	11,500
		6/30	4,750
		Bal.	13,290
Owners Drawings
6/13	800
6/25	2,160
Bal.	2,960	6/30	2,960

Prepare the closing entries that were made. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
June 30
	(To close revenue account)
June 30
	(To close expense account)
June 30
	(To close net income / (loss))
June 30
	(To close drawings)

SHOW LIST OF ACCOUNTS

LINK TO TEXT

Post the closing entries to Income Summary. (Post entries in the order of journal entries posted in the previous part of the question.)

Income Summary
June 30Total		June 30Total
June 30Total		June 30Total
June 30Total		June 30Total