Question: Please do Closing Entries and correct the total figure for total liabilities and stockholder's equity. D59 fx =D53+D58 D E H 1 2 Hawk Corporation
Please do Closing Entries and correct the total figure for total liabilities and stockholder's
equity.
D59 fx =D53+D58 D E H 1 2 Hawk Corporation Income Statement For Month Ended, December 31, 2021 S 31,259 400 1.250 555 2,475 580 2.940 1,305 Revenues: 6 Computer Services Revenue 7 8 Expenses 9 Depr. Exp. - Office Equipment 10 Depr. Exp. - Comp. Equipment 11 Wages Expense 12 Insurance Expense 13 Rent Expense 14 Computer Supplies Expense 1s Advertising Expense 16 Repairs Expense - Computer 17 Total Expenses 18 Net Income 19 20 Hawk Corporation 21 Statement of Retained Famning 22 For Month Ended, December 31, 2021 23 24 Retained Earning Oct. 1, 2019 25 Plus Net Income 26 Less Dividends 27 Retained Earning, Dec 31, 2019 28 29 Hawk Corporation 30 Balance Sheet 31 December 31, 2021 9,505 21,754 Check Figure: $15,794 S S 21,754 7.100 14,654 Check Figure: $8,694 S 58, 256 7,118 580 1,665 825 $ 68.444 8.000 (400) 20,000 (1.250) 33 Current Arts 34 Cash S 35 Accounts Receivable 36 Computer Supplies 37 Prepaid Insurance 38 Prepaid Rent 39 Total 40 41 Plant Arts 42 Office Equipment 43 Accum. Depr - Office Equip. 44 Computer Equipment 45 Accum. Depr. Comp. Equip 46 Total 47 Total Assets 43 49 Liabilities so Accounts Payable S 51 Wages Payable 52 Unearned Computer Services 53 Total 54 SS Shareholders Tiquity 56 Comman Stock 57 Retained Earning 58 Total 59 Total Liabilities and Shareholders' Equity 60 61 S 26,350 94,794 Check Figure: 994,794 1,100 500 1,500 S 3,100 83,000 14,654 S 97,654 100,754 Check Figure: $94,794 63 Clasing Entries Account Description Month Day Acct. Dr. Cr. Transaction Detail Close Revenues 65 66 67 68 Clue Expense Clue Income Summary Clee Dividends 70 71 72 73 Directions Chart of Accounts Journal Entries Ledger Financia
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
