acc 171 US Weygandt, Accounting Principles, 12e Assignment Gradebook ORION Downl
ID: 2336404 • Letter: A
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acc 171
US Weygandt, Accounting Principles, 12e Assignment Gradebook ORION Downloadable eTextbook Practice signment CES Exercise 197 At March 31, account balances after adjustments for Wide Screen are as follows: Account Balances (After Adjustment) $11,000 4,000 50,000 12,000 5,000 20,000 8,000 59,000 55,000 18,800 17,000 4,000 26,000 24,000 5,200 Accounts Cash Supplies Equipment dy Accumulated Depreciation-Equipment Accounts Payable Owners, Capital Owner's, Drawings Ticket Revenue Service Revenue Advertising Expense Supplies Expense Depreciation Expense Rent Expense Salaries and Wages Expense Utilities Expense Prepare the closing journal entries for Wide Screen. (Credit account titles are automatica No. Account Titles and Explanation Debit Credit Mar 21 Privacy.Palisy. 2000:2018 John wiley s Soos.ins. All Rights Reserved. A Division of John Wiley &ions. Ine 9 WileyPLUS-Google Document1-WordExplanation / Answer
Mar 31
Dr Ticket Revenue $ 59,000
Dr Service Revenue $ 55,000
Cr Income Summary $ 114,000
(to close revenue account.)
Mar 31
Dr Income Summary $ 95,000
Cr Advertising Expense $ 18,800
Cr Supplies Expense $ 17,000
Cr Depreciation Expense $ 4,000
Cr Rent Expense $ 26,000
Cr Salaries & Wages Expenses $ 24,000
Cr Utilities Expense $ 5,200
(to close expense accounts.)
Mar 31
Dr Income Summary $ 19,000
Cr Owner's Capital $ 19,000
(to transfer net income to capital.)
Mar 31
Dr Owner's Capital $ 8,000
Cr Owner's Drawings $ 8,000
(to close drawings to capital.)
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