Prepare the closing entries for the temporary accounts at March 31 Thank YOU
Posted: Thu May 19, 2022 2:37 pm
Prepare the closing entries for the temporary accounts at March
31
Thank YOU
SWIFTY COMPANY Trial Balance March 31, 2022 Debit Credit Cash $15,738 Accounts Receivable 11,468 Supplies 854 Prepaid Insurance 3,050 Equipment 19,520 Accumulated Depreciation-Equipment $5,856 Accounts Payable 7,076 Salaries and Wages Payable 1,342 Unearned Rent Revenue 732 Common Stock 18,300 Retained Earnings 6,832 Dividends 7,076 Service Revenue 42,212 Rent Revenue 17,568 Salaries and Wages Expense 22,082 Supplies Expense 2,196 Rent Expense 14,640 Insurance Expense 1,830 Depreciation Expense 1,464 $99,918 $99,918
No. Account Titles and Explanation Debit Credit 1. (To close revenue accounts.) 2. (To close expense accounts.) 3. (To close net income /(loss).) 4. (To close dividends account.)
31
- Prepare The Closing Entries For The Temporary Accounts At March 31 Thank You 1 (95.11 KiB) Viewed 107 times
SWIFTY COMPANY Trial Balance March 31, 2022 Debit Credit Cash $15,738 Accounts Receivable 11,468 Supplies 854 Prepaid Insurance 3,050 Equipment 19,520 Accumulated Depreciation-Equipment $5,856 Accounts Payable 7,076 Salaries and Wages Payable 1,342 Unearned Rent Revenue 732 Common Stock 18,300 Retained Earnings 6,832 Dividends 7,076 Service Revenue 42,212 Rent Revenue 17,568 Salaries and Wages Expense 22,082 Supplies Expense 2,196 Rent Expense 14,640 Insurance Expense 1,830 Depreciation Expense 1,464 $99,918 $99,918
No. Account Titles and Explanation Debit Credit 1. (To close revenue accounts.) 2. (To close expense accounts.) 3. (To close net income /(loss).) 4. (To close dividends account.)