Dorsey Company's partial worksheet for the month ended March 31, 2019, is shown below. Open...
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Accounting
Dorsey Company's partial worksheet for the month ended March 31, 2019, is shown below. Open the owner's capital account (account number 301) in the general ledger and record the March 1, 2019, balance of $39,500 shown on the worksheet.
Income Statement Balance Sheet
Account Name Debit Credit Debit Credit
Cash 10,000
Account Receivable 14,000
Supplies 5,250
Equipment 37,500
Accum. Depr. -Equip 13,000
Accounts Payable 11,000
N. Dorsey, Capital 39,500
N, Dorsey, Drawing 4,500
Fees Income 29,000
Salaries Expense 14, 900
Rent expense 2,150
Supplies Expense 1,450
Depr. Exp. -Equip. 2,750
Totals 21,250 29,000 71,250 71,250 63,500
Net Income 7,750 7,750
prepare a journal entries for the Dorsey Company's on March 31, 2019. Post the closing entries to the owner's capital account.
Prepare a postclosing trial balance.
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