eehtragatech.blackboard.com apter 4-ACCT11 QUESTION 2 After the accounts have be

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eehtragatech.blackboard.com apter 4-ACCT11 QUESTION 2 After the accounts have been adjusted at January 31, the end of the fiscal year, the following balances are taken from the ledger of Harrison's Dog Walking Service Company: Harrison Taylor, Capital Harrison Taylor, Drawing Fees Earned Wages Expense Rent Expense Supplies Expense Miscellaneous Expense $349,000 6,000 124,600 29,000 43,000 7,300 5,700 Journalize the four entries required to close the accounts T T T . Arial : 3 (12pt) Path: p words:0 Click Save and Submit to save and submit. Click Save All Answers to save all answers Save All Answers

Explanation / Answer

Fees earned $ 124,600 Income summary $ 124,600 (To close revenue account) Income summary $    85,000 Wages expense $    29,000 Rent expense $    43,000 Supplies expense $      7,300 Misc. expense $      5,700 (To close expenses account) Income summary ($124,600-$85,000) $    39,600 Harrison Taylor, Capital $    39,600 ( To record balance in income summary) Harrison Taylor, Capital $      6,000 Harrison Taylor, Drawings $      6,000 (To close drawings account

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