Question

Cash 10,500 Accounts Receivable 7,720 Prepaid Rent 2,420 Equipment 23,250 Accumulated Depreciation-Equip. 4,500 Notes Payable 5,500 Accounts Payable 4,500 Common Stock 21,030 Retained Earnings 7,950 Dividends 3,400 Service Revenue 16,000 Salaries and Wages Expense 10,740 Rent Expense 800 Depreciation Expense 650 Interest Expense 30 Interest Payable 30 Totals 59,510 59,510 (a) Journalize the closing entries at April 30. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.)

          Cash 10,500
Accounts Receivable 7,720
Prepaid Rent 2,420
Equipment 23,250
Accumulated Depreciation-Equip. 4,500
Notes Payable 5,500
Accounts Payable 4,500
Common Stock 21,030
Retained Earnings 7,950
Dividends 3,400
Service Revenue 16,000
Salaries and Wages Expense 10,740
Rent Expense 800
Depreciation Expense 650
Interest Expense 30
Interest Payable 30
Totals 59,510 59,510
(a)
Journalize the closing entries at April 30. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.)

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cash 10500 accounts receivable 7720 prepaid rent 2420 equipment 23250 accumulated depreciation equip 4500 notes payable 5500 accounts payable 4500 common stock 21030 retained earnings 7950 d 95197

Added by Mary R.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

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Solved by Expert Derrick Danso

05/30/2022

Step 1

These are revenue accounts (Service Revenue), expense accounts (Salaries and Wages Expense, Rent Expense, Depreciation Expense, Interest Expense), and dividends. Show more…

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Cash 10,500 Accounts Receivable 7,720 Prepaid Rent 2,420 Equipment 23,250 Accumulated Depreciation-Equip. 4,500 Notes Payable 5,500 Accounts Payable 4,500 Common Stock 21,030 Retained Earnings 7,950 Dividends 3,400 Service Revenue 16,000 Salaries and Wages Expense 10,740 Rent Expense 800 Depreciation Expense 650 Interest Expense 30 Interest Payable 30 Totals 59,510 59,510 (a) Journalize the closing entries at April 30. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.)

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