Account Title Debit Credit Cash 44,195 Accounts Receivable 8,080 Supplies 715 Prepaid Rent 1,600 Prepaid Insurance 1,225 Office Equipment 14,500 Accumulated Depreciation 660 Accounts Payable 895 Salaries Payable 325 Unearned Fees 3,210 Kelly Pitney, Capital 42,300 Kelly Pitney, Drawing 10,500 Fees Earned 40,000 Salary Expense 1,705 Rent Expense 1,600 Supplies Expense 1,370 Depreciation Expense 330 Insurance Expense 275 Miscellaneous Expense 1,295 87,390 87,390 Post. Ref. Date Account Name Debit Credit 2019 May 31 May 31

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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prepare closing entry

Account Title
Debit
Credit
Cash
44,195
Accounts Receivable
8,080
Supplies
715
Prepaid Rent
1,600
Prepaid Insurance
1,225
Office Equipment
14,500
Accumulated Depreciation
660
Accounts Payable
895
Salaries Payable
325
Unearned Fees
3,210
Kelly Pitney, Capital
42,300
Kelly Pitney, Drawing
10,500
Fees Earned
40,000
Salary Expense
1,705
Rent Expense
1,600
Supplies Expense
1,370
Depreciation Expense
330
Insurance Expense
275
Miscellaneous Expense
1,295
87,390
87,390
Transcribed Image Text:Account Title Debit Credit Cash 44,195 Accounts Receivable 8,080 Supplies 715 Prepaid Rent 1,600 Prepaid Insurance 1,225 Office Equipment 14,500 Accumulated Depreciation 660 Accounts Payable 895 Salaries Payable 325 Unearned Fees 3,210 Kelly Pitney, Capital 42,300 Kelly Pitney, Drawing 10,500 Fees Earned 40,000 Salary Expense 1,705 Rent Expense 1,600 Supplies Expense 1,370 Depreciation Expense 330 Insurance Expense 275 Miscellaneous Expense 1,295 87,390 87,390
Post. Ref.
Date
Account Name
Debit
Credit
2019
May 31
May 31
Transcribed Image Text:Post. Ref. Date Account Name Debit Credit 2019 May 31 May 31
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