Question: journalize closing entries/ post closing entries and complete closing process July 31 (To dose revenue account) July 31 I. (To close expense accounts) July 31

journalize closing entries/ post closing entries and complete closing process  journalize closing entries/ post closing entries and complete closing process July
31 (To dose revenue account) July 31 I. (To close expense accounts)
July 31 Post closing entries and complete the closing process. (For accounts
that have zero ending balance, the entry should be the balance date
and zero for the amount. Post entries in the order of joumal
entries presented.) Accounts Receivable \begin{tabular}{|ll|l|} \hline 7/12 & 3,770 & 7/21 \\
\hline 7/25 & 2,550 & 1,630 \\ \hline 7/31 & 1,730 &
\\ \hline 7/31Bal & 6,420 & \end{tabular} \begin{tabular}{|l|r|r|r|} \hline \multicolumn{2}{|c|}{ Prepaid Insurance
} \\ \hline 7/5 & 1,800 & 7/31 & 150 \\ \hline
7/31 Bal. & 1,650 & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{
Equipment } \\ \hline 7/1 & 8,160 & \\ \hline 7/31Bal. &

July 31 (To dose revenue account) July 31 I. (To close expense accounts) July 31 Post closing entries and complete the closing process. (For accounts that have zero ending balance, the entry should be the balance date and zero for the amount. Post entries in the order of joumal entries presented.) Accounts Receivable \begin{tabular}{|ll|l|} \hline 7/12 & 3,770 & 7/21 \\ \hline 7/25 & 2,550 & 1,630 \\ \hline 7/31 & 1,730 & \\ \hline 7/31Bal & 6,420 & \end{tabular} \begin{tabular}{|l|r|r|r|} \hline \multicolumn{2}{|c|}{ Prepaid Insurance } \\ \hline 7/5 & 1,800 & 7/31 & 150 \\ \hline 7/31 Bal. & 1,650 & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Equipment } \\ \hline 7/1 & 8,160 & \\ \hline 7/31Bal. & 8,160 & \\ \hline \end{tabular} Accumulated Depreciation-Equipment \begin{tabular}{l|lc} \hline & 7/31 & 180 \\ \hline & 7/31 Bal. & 180 \end{tabular} Owner's Capital 7/1 $12,200 Insurance Expense Salaries and Wages Expense 7/207/31 2,040410 Income Statement For the Month Ended July 31,2020 Revenues Service Revenue Expenses Maintenance and Repairs Expense $ 300 Supplies Expense 590 1 Depreciation Expense Insurance Expense Salaries and Wages Expense Total Expense Net lncome/ (Loss) RIVERBED WINDOW WASHING CO. Owner's Equity Statement For the Month Ended July 31, 2020 Owner's Capital, July Add v : Balance Sheet July 31,2020 Assets CurrentAssets Cish Accounts Receivable Supplies: Prepaid insurance Total Current Assets Property, Plant and Equipment Equipment Less : : Accuinulated Depreciation-Equipment Total Assets Labilities and Owner's Equity Current tiabilities Accounts Payable Salaries and Wages Payable Total Current Labilities Owner's fquity Owner's Capital Total Liabilities and Omner's Equity

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!