On the basis of the following data taken from the Adjusted Trial Balance columns of the work sheet for the year ended December 31 for Pavin, journalize the two closing entries. $ 31,500 Cash...... Accounts Receivable...... ¡5,200 5,000 ************ 199,900 Supplies...... Equipment....... Accumulated Depreciation. Accounts Payable.. C. Pavin, Capital. $ 69,000 I 42,500 152,600 C. Pavin, Drawing. 30,000 Fee Earned................... 417,500 249,500 Salary Expense..... Rent Expense.. Depreciation Expense.. 48,000 26,000 Supplies Expense 7,500 ******** Miscellaneous Expense... 9,000 681,600 681.600 *****▪▪▪▪▪▪ ************* www.bu.….. ***************** ********** ******** ***************** **ba…………………. *********** **************** ************** ************* ******************** ..................... .
On the basis of the following data taken from the Adjusted Trial Balance columns of the work sheet for the year ended December 31 for Pavin, journalize the two closing entries. $ 31,500 Cash...... Accounts Receivable...... ¡5,200 5,000 ************ 199,900 Supplies...... Equipment....... Accumulated Depreciation. Accounts Payable.. C. Pavin, Capital. $ 69,000 I 42,500 152,600 C. Pavin, Drawing. 30,000 Fee Earned................... 417,500 249,500 Salary Expense..... Rent Expense.. Depreciation Expense.. 48,000 26,000 Supplies Expense 7,500 ******** Miscellaneous Expense... 9,000 681,600 681.600 *****▪▪▪▪▪▪ ************* www.bu.….. ***************** ********** ******** ***************** **ba…………………. *********** **************** ************** ************* ******************** ..................... .
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 7PB: Using the following information, A. Make the December 31 adjusting journal entry for depreciation....
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