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jaygamer37
16.06.2020 •
Business
Stylist Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at July 31, the end of the fiscal year, the following balances were taken from the ledger of Stylist Services Co:
Marlena Fenton, Capital $1,060,000
Marlena Fenton, Drawing 75,000
Fees Earned 618,200
Wages Expense 388,400
Rent Expense $60,000
Supples Expense 19,500
Miscellaneous Expense 6,150
Journalize the two entries required to close the accounts
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Ответ:
Stylist Services Co.
July31
Debit Fees Earned 618,200
Credit Wages Expense388,400
Credit Rent Expense60,000
Credit Supplies Expense19,500
Credit Miscellaneous Expense 6,150
Credit Marlena Fenton, Capital 144,150
July 31
Debit Marlena Fenton, Capital75,000
Credit Marlena Fenton, Drawing 75,000
Explanation:
Calculation of Marlena Fenton, Capital
Fees Earned 618,200
Less Wages Expense (388,400)
Less Rent Expense (60,000)
Less Supplies Expense (19,500)
Less Miscellaneous Expense ( 6,150)
= Marlena Fenton, Capital 144,150
Ответ: