Selected accounts for Klein Photography at December 31, 2018, follow: (Click the icon to view the selected accounts.) Requirements 1. Journalize Klein Photography's closing entries at December 31, 2018. 2. Determine Klein Photography's ending Klein, Capital balance at December 31, 2018. Requirement 1. Journalize Klein Photography's closing entries at December 31, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing revenues. Date Dec. 31 Accounts and Explanation Debit Credit

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter3: Review Of A Company's Accounting System
Section: Chapter Questions
Problem 10RE: Use the information in RE3-6, (a) assuming Ringo Company makes reversing entries, prepare the...
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Selected accounts for Klein Photography at December 31, 2018, follow:
(Click the icon to view the selected accounts.)
Requirements
1. Journalize Klein Photography's closing entries at December 31, 2018.
2. Determine Klein Photography's ending Klein, Capital balance at December 31, 2018.
Requirement 1. Journalize Klein Photography's closing entries at December 31, 2018. (Record debits first, then
credits. Select the explanation on the last line of the journal entry table.)
Start by closing revenues.
Date
Dec. 31
Clos. (1)
a table
Klein, Withdrawals
24,000
Salaries Expense
30,400
800
Depreciation Expense-Building
7,300
Accounts and Explanation
Klein, Capital
60,000
Service Revenue
40,000
2,000
Supplies Expense
3,300
1,000
Depreciation Expense-Furniture
Debit
I
X
Credit
Transcribed Image Text:↑ Selected accounts for Klein Photography at December 31, 2018, follow: (Click the icon to view the selected accounts.) Requirements 1. Journalize Klein Photography's closing entries at December 31, 2018. 2. Determine Klein Photography's ending Klein, Capital balance at December 31, 2018. Requirement 1. Journalize Klein Photography's closing entries at December 31, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing revenues. Date Dec. 31 Clos. (1) a table Klein, Withdrawals 24,000 Salaries Expense 30,400 800 Depreciation Expense-Building 7,300 Accounts and Explanation Klein, Capital 60,000 Service Revenue 40,000 2,000 Supplies Expense 3,300 1,000 Depreciation Expense-Furniture Debit I X Credit
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