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…………………. *********** **************** ************** ************* ******************** ..................... .
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:12:34
< closing entries assign...
ACC 1007
DR. A. FORTE
7
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.
Cash.
. $ 31,500
Accounts Receivable..
¡5,200
Supplies.
5,000
Equipment
199,900
Accumulated Depreciation.
$ 69,000
42,500
152,600
30,000
Accounts Payable.
C. Pavin, Capital
C. Pavin, Drawing.
Fee Earned....
Salary Expense.
Rent Expense.
417,500
249,500
48,000
26,000
Depreciation Expense...
Supplies Expense.......
Miscellaneous Expense..
7,500
9,000
681.600
681.600
4
Dashboard
000
Calendar
.......
1
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