Please refer to Chapter 16 Closing Entries learning materials to complete the following questions:

Kumon Kids Ltd provided a trial balance for the year ended 30 June 2021. Only the balance date adjustment entries have been posted to the general ledger.

Kumon Kids Ltd Trial Balance on 30 June 2021
	Debit	Credit
Account Payable		$ 16,150
Accounts Receivable	$ 35,870
Accrued Expenses		1,900
Advertising	5,400
Allowance for Doubtful Debts		1,000
Bad Debts	2,900
Bank Fees	975
Capital		428,175
Cartage Outwards	2,015
Drawings	45,000
Bank Overdraft		5,260
Cost of Goods Sold	106,500
Electricity	8,640
Furniture & Equipment	148,600
GST Collected (Payable)		10,370
Insurance	11,500
Interest Expense	9,475
Interest Income		10,300
Inventory	16,740
Land & Buildings	300,000
Lease Expenses	8,400
Long Term Loan		128,000
Motor Vehicles	110,500
Postage & Stationery	3,600
Rent	9,600
Repairs & Maintenance	1,200
Salaries - Office	98,000
Salaries - Sales staff	85,000
Sales		408,760
	$1,009,915	$1,009,915

Task 9

Prepare Closing General Journal entries on 30 June 2021

Answer:

General Journal of Kumon Kids Ltd
Date	Particulars	thaDebit	Cred

Prepare Closing General Journal entries on 30 June 2021

that is the question need closing General journal