Question

***create the closing journal entry only***

After the success of the company's first two months, Santana Rey continues to operate Business unadjusted trial balance of Business Solutions (reflecting its transactions for October and Novemb Credit Debit $ 38,564 13,118 2,645 1,980 3,160 8,800 bok nt ences 20,400 ooooo No. Account Title 101 Cash 106 Accounts receivable 126 Computer supplies 128 Prepaid insurance 131 Prepaid rent 163 Office equipment 164 Accumulated depreciation office equipment 167 Computer equipment 168 Accumulated depreciation-Computer equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services revenue 307 Common stock 318 Retained earnings 319 Dividends 403 Computer services revenue 612 Depreciation expense-Office equipment 613 Depreciation expense-Computer equipment 623 Wages expense 637 Insurance expense 640 Rent expense 652 Computer supplies expense 655 Advertising expense Mileage expense 677 Miscellaneous expenses 684 Repairs expense-Computer Totals 73,000 5,600 26,794 250 1,658 644 230 745 $ 99,794 $99,794 Business Solutions had the following transactions and events in December 2017

adjusted trial balance added

Answer 1

Credit ($) Debit ($) $ 33,269 $ 33,269 min on $ 16,427 $ $ 10 11 _ EF Closing Journal Entries 2 Date Account Tiltes Computer Services Revenue Income Summary (To close revenue accounts) Income Summary Depreciation Expense - Office equipment Depreciation Expense - Computer equipment Wages Expense Insurance Expense Rent Expense 12 Computer supplies expense 13 Advertising expense Mileage expense 15 Miscellaneous expense 16 Repairs expense - Computer 17 (To close expense accounts) 18 3 Income Summary Retained Earnings (To close net income) Retained Earnings Dividends (To close dividends accounts) $ $ $ $ 440 1,275 3,300 495 2,370 3,705 2,673 784 230 1,155 14 $ $ $ 16,842 19 $ 16,842 $ 6,900 $ 6,900

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