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1 Homework 6 Required information Sections for Alternative Forms of Organization LO 11-S1 The folowing information applies to the questions displayed below Assume for each of the following independent cases that the annual accounting period ends on D total of ecember 31 and that the all revenue accounts was $150.000 and the total of all expense accounts was $130.000 that the business is a sole proprietorship owned by Proprietor A. Prlor to the closing entries, t ital account reflectedcrede balance of S50,000 and the trawings account sham a bairce or sa,see. Assume that the business is a partnership owned by Partner A and Partner . Prior to the closing entries, the owners equity accouets reflectes the following balances: A, Capital, 540,00; 8, Capital, 538,000: A, raings,$5,00 and B, Orawings, $9,000. Profits and losses are divided equally Case 8: entries, the stockholders equity accounts Case C: Assume that the business is a corporation. Prior to the closing thowed the following: Capital Stock, par $10, autnorized 38,0 Paid-In Capltal,$5,000 Retained tarnings, $65,000. io dividends were declared. 000 shares, outstanding 15,000 shares Additiona E11-18 Part 1 Required: 1 Prepare ail tye closing entries required at December 31 for each of the cases. lif no entry is required for a trensection event, select No Journal Entry Required" in the first account field. O Case Ai Record the dosing of the revenue and expense O Case A: Record the closing of the drawing account to the G case : Record the doing of tne revenue and epense accounts to the propristor's capital account proprietor's cacital account sccourts to the oartners capital accounts Case 8: Record the dlosing of the partners draning accounts to the partners capital accounts Case CRecord hsing of the revenve and egense accounts to the retainred eamings account

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