41 ) Closing journal entriesNo.101Cash112 Accounts Receivable157Equipment158Accumulated Depreciation-Equip.201Accounts Payable208Unearned Rent Revenue301Owner's Capital306Owner's Drawings400Service Revenue429Rent Revenue711Depreciation Expense726Salaries and Wages Expense732 Utilities ExpenseAccount TitlesDebit$10,1008,80016,10015,8007,60056,20015,400Credit$7,1004,1001,90045,30065,0006,600

Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…

Answered: No. 101 Cash 112 Accounts Receivable…

No. 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. Account Titles Debit $10,100 8,800 16,100 Credit $7,100

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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Question

41 )

Closing journal entries
No.
101
Cash
112 Accounts Receivable
157
Equipment
158
Accumulated Depreciation-Equip.
201
Accounts Payable
208
Unearned Rent Revenue
301
Owner's Capital
306
Owner's Drawings
400
Service Revenue
429
Rent Revenue
711
Depreciation Expense
726
Salaries and Wages Expense
732 Utilities Expense
Account Titles
Debit
$10,100
8,800
16,100
15,800
7,600
56,200
15,400
Credit
$7,100
4,100
1,900
45,300
65,000
6,600

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