Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 15 Feb 2018 My Price 4.00

remaining temporary accounts

After all revenue and expenses have been closed at the end of the fiscal period ended December 31, Income Summary has a debit of $45,550 and a credit of $36,520. On the same date, D. Mau, Drawing has a debit balance of $12,000 and D. Mau, Capital had a beginning credit balance of $63,410.

 

a. Journalize the entries to close the remaining temporary accounts.

b. What is the new balance of D. Mau, Capital after closing the remaining temporary accounts? Show your calculations.

Answers

Maurice Tutor
(5)
Status NEW Posted 15 Feb 2018 08:02 PM My Price 4.00

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