Account Adj Trial Balance Titles Dr. Cr. Cash 10,000 Accounts Receivable 5,000 Unearned Revenue 1,000 Capital...

Account	Adj Trial Balance
Titles	Dr.	Cr.
Cash	10,000
Accounts Receivable	5,000
Unearned Revenue		1,000
Capital (Common Stock)		15,000
Withdraw (Dividends)	2,000
Service Revenue		5,000
Supplies Expense	1,000
Depreciation Expense	3,000
Totals	21,000	21,000

Using the partial adjusted trial balance above … prepare closing entries

Expert Solution

Closing entry

Date	account and explanation	Debit	Credit
	Service revenue	5000
	Income summary		5000
	(To close revenue)

	Income summary	4000
	Supplies expense		1000
	Depreciation expense		3000
	(To close expense)

	Income summary	1000
	Capital		1000
	(To close income summary)

	Capital	2000
	withdrawal		2000
	(To close withdrawal)

ekkarill92 answered 1 year ago

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