The ledger of Sunland Company contains the following balances: Owner s Capital $ 2 8 ,
Question:
The closing entries are as follows:
Close revenue accounts.
Close expense accounts.
Close net incomeloss
Close drawings.
Enter the balances in Taccounts, post the closing entries in the order presented in the problem and use the numbers as a reference.
Salaries and Wages Expense
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enter a debit amount
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enter a credit amount
Supplies Expense
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Service Revenue
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enter a debit amount
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enter a credit amount
Owners Drawings
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enter a debit amount
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enter a credit amount
Income Summary
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enter a debit amount
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enter a credit amount
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enter a debit balance
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enter a credit balance
Owners Capital
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enter a debit amount
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enter a credit amount
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enter a debit amount
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enter a credit amount
select an option
enter a debit balance
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enter a credit balance