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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Kay Magill Company had the following adjusted trial balance.
KAY MAGILL COMPANYAdjusted Trial BalanceFor the Month Ended June 30, 2014Adjusted Trial BalanceAccount TitlesDebitCreditCash $3,546 Accounts Receivable 4,018 Supplies 473 Accounts Payable $1,567Unearned Service Revenue 143Owner’s Capital 4,487Owner’s Drawings 439 Service Revenue 5,497Salaries and Wages Expense 1,284 Miscellaneous Expense 389 Supplies Expense 1,969 Salaries and Wages Payable 424 Total $12,118 $12,118
Prepare closing entries at June 30, 2014. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
No.Account Titles and ExplanationDebitCredit1.
(To close revenue account.)2.
(To close expense accounts)3.
(To close net income / (loss).)4.
(To close drawings)
SHOW LIST OF ACCOUNTSLINK TO TEXT
Prepare a post-closing trial balance.
KAY MAGILL COMPANYPost-Closing Trial BalanceFor the Month Ended June 30, 2014DebitCredit
Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------acq-----------uis-----------iti-----------on -----------of -----------my -----------sol-----------uti-----------on.-----------Ple-----------ase----------- pi-----------ng -----------me -----------on -----------cha-----------t I----------- am----------- on-----------lin-----------e o-----------r i-----------nbo-----------x m-----------e a----------- me-----------ssa-----------ge -----------I w-----------ill----------- be----------- ca-----------tch-----------