Question
Journalize closing entries 4. Prepare the closing entries with the following information from the adjusted Accumulated...
Journalize closing entries
4. Prepare the closing entries with the following information from the adjusted Accumulated Depreciation-equipment $5,000 3,200 1,900 Prepaid Insurance Unearned revenue Fees earned Wage expense Insurance expense Utilities expense Depreciation expense 70,980 4,150 1,245 2,713 2,042 3
Answers
closing Journal entry
date
explanation
debit
credit
31-Dec
fees earned
70980
income summary
70980
31-Dec
income summary
10150
wage expense
4150
insurance expense
1245
utilities expense
2713
depreciation expense
2042
31-Dec
income summary
60830
retained earnings
60830
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