Closing Entries
After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Nuclear Landscaping Co.:
Felix Godwin, Capital
$284,600
Felix Godwin, Drawing
44,000
Fees Earned
334,720
Wages Expense
256,400
Rent Expense
61,500
Supplies Expense
23,075
Miscellaneous Expense
7,690
Journalize the two entries required to close the accounts.
For a compound transaction, if an amount box does not require an entry, leave it blank.
Apr. 30 Felix Godwin, Capital ?
Fees Earned ?
Wages Expense ?
Rent Expense ?
Supplies Expense ?
Miscellaneous Expense ?
Apr. 30 Felix Godwin, Capital ?
Felix Godwin, Drawing ?
X
334,720
256,400
61,500
23,075
7,690
44,000
44,000