- 6 B
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Post the closing entries to Income Summary. (Post entries in the order of journal entries posted in the previous part of the question.)
Income Summary

Transcribed Image Text:Selected accounts for Cullumber's Salon are presented here. All June 30 postings are from closing entries.
Salaries and Wages Expense
6/10
6/28
Bal.
6/12
6/24
Bal.
6/30
6/1
Bal.
6/30
Supplies Expense
6/13
6/25
2,700
Bal.
5,440
8,140 6/30 8,140
590
890
1,480 6/30 1,480
Service Revenue
m
18,300 Bal. 18,300
3,440
Rent Expense
6/15
9,600
6/24 8,700
3,440 6/30
Owner's Capital
2,240 6/1 11,900
1,400
840
6/30
3,440
5,240
Owner's Drawings
Bal. 14,900
2,240 6/30 2,240
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