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The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of the concepts. Note: You must complete parts 1, 2, 3, 4, 6, 7 and 8 before completing part 9. Part 5 is optional. Part 9: Prepare the closing entries below. Then, using the attached spreadsheet from part 2, post the entries to your general ledger. If an amount box does not require an entry, leave it blank, Post. Ref. Debit Credit 40,000 0 51 1,705 Date Account Name 2018 Closing Entries May 31 Fees Earned Salary Expense Rent Expense Supplies Expense Depreciation Expense 52 0 1,600 53 o 1,370 54 0 330 D 275 O Insurance Expense Miscellaneous Expense Retained Engings dropdown 1,295 33,425 0 May 31 Retained Earnings Dividends Previous Ned Check My Work Sub Anment for Grading Show All The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of the concepts. Note: You must complete parts 1, 2, 3, 4, 6, 7 and 8 before completing part 9. Part 5 is optional. Part 9: Prepare the closing entries below. Then, using the attached spreadsheet from part 2, post the entries to your general ledger. If an amount box does not require an entry, leave it blank, Post. Ref. Debit Credit 40,000 0 51 1,705 Date Account Name 2018 Closing Entries May 31 Fees Earned Salary Expense Rent Expense Supplies Expense Depreciation Expense 52 0 1,600 53 o 1,370 54 0 330 D 275 O Insurance Expense Miscellaneous Expense Retained Engings dropdown 1,295 33,425 0 May 31 Retained Earnings Dividends Previous Ned Check My Work Sub Anment for Grading Show All

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