After the accounts have been adjusted at June 30, the end of the fiscal year, the following balances were taken from the ledger of Classic Landscaping Services: Line Item Description Amount Bashir Yousif, Capital $1,100,000 Bashir Yousif, Drawing 30,000 Fees Earned 975,000 Wages Expense 580,000 Rent Expense 120,000 Supplies Expense 31,600 Miscellaneous Expense 12,400 Journalize the two entries required to close the accounts. If an amount box does not require an entry, leave it blank.

After the accounts have been adjusted at June 30, the end of the fiscal year, the following balances were taken from the ledger of Classic Landscaping Services: Line Item Description Amount Bashir Yousif, Capital $1,100,000 Bashir Yousif, Drawing 30,000 Fees Earned 975,000 Wages Expense 580,000 Rent Expense 120,000 Supplies Expense 31,600 Miscellaneous Expense 12,400 Journalize the two entries required to close the accounts. If an amount box does not require an entry, leave it blank.

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section: Chapter Questions

Problem 6AP

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