The following partial work sheet covers the affairs of Masanto and Company for the year ended June 30.

Required
1. Journalize the six adjusting entries.
2. Journalize the closing entries.
3. Journalize the reversingentry.

Transcribed Image Text:

Masanto and Company Work Sheet For Year Ended June 30, 20- INCOME STATEMENT DEBIT BALANCE SHEET DEBIT ACCOUNT NAME CREDIT CREDIT 21,03400 89,016.00 116 400.00 3,210.00 12,400.00 Accounts Reoeivable 9Meichandise Inventory 10 Prepaid Insurance 11 Delivery Equipment 12 Accuulated Depreciation, Delivery Equipment 13Store Equipment 14 Acoumulated Depreciation, Store Equipment 1S Accounts Payable 16 P.R. Masanto, Capital 460000 30,400.00 8,70000 5550000 172,73000 17P. R. Masento, Drawing 19 Purchases 26,000.00 1 Sales 20 Purchases Retums and Allowances 516,000,00 21 Purchases Discounts 9,600.00 6,800.00 22 Freight In 23 Salary Expense 14,000.00 4600.00 10600.00 2,700.co 1,459.00 24 Delivery Equipment Expense 25 Suppies Expenee 26 Miscelanecus Expense 27 28 Inoome Summary 29 Salaries Payable 30 Insurance Expense 112,200.00 16,400,00 124000 $1 Depreciation Expense, Delivery Equipmant 32 Depreciaton Expense, Store Equipment 2,840.00 1,400.00 2 600.00 34 Net Incorne 35 592,800.00 48,800.00 8 460.00242,5600o 55,g000 643,80000648,800.00 86 460.00288 460.00 55 9co.00 kィト到1 Sheet1 Sheet2 Sheet3