Number Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 168 307 Common stock...
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Accounting
Number Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 168 307 Common stock 318 Retained earnings 319 Dividends 403 Services revenue 612 622 637 640 652 Equipment Accumulated depreciation-Equipment Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Supplies expense Totals Debit $ 19,000 13,000 3,000 24,000 7,000 Credit $ 7,500 10,000 37,600 44,000 3,000 22,000 2,500 3,400 2,200 $ 99, 100 $ 99, 100 1. Prepare the December 31 closing entries. The account number for Income Summary is 901. 2. Prepare the December 31 post-closing trial balance. Note: The Retained Earnings account balance was $3 December 31 of the prior year.
1. Prepare the December 31 closing entries. The account number for Income Summary is 901. 2. Prepare the December 31 post-closing trial balance. Note: The Retained Earnings account balance was $3 December 31 of the prior year. Journal entry worksheet 2 Record the entry to close revenue accounts. Note: Enter debits before credits
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