Following are selected accounts and their balances for a company after the adjustments as of May 31, the end of its fiscal year. (All accounts have normal balances.)
| J. Mark, Capital | $30,000 |
| J. Mark, Withdrawals | $6,000 |
| Fees Earned | $20,000 |
| Salaries Expense | $7,000 |
| Utilities Expense | $100 |
| Supplies Expense | $500 |
| Accounts Payable | $1,250 |
| Salaries Payable | $300 |
| Depreciation Expense | $425 |
Prepare all necessary closing entries for this company.
No comments:
Post a Comment