PE 4-4B Closing entries
After the accounts have been adjusted at June 30, the end of the fiscal year, the following balances were taken from the ledger of Hillcrest Landscaping Co.:
|
Bryan Orr, Capital |
$275,000 |
|
Bryan Orr, Drawing |
25,000 |
|
Fees Earned |
400,000 |
|
Wages Expense |
280,000 |
|
Rent Expense |
40,000 |
|
Supplies Expense |
3,000 |
|
Miscellaneous Expense |
12,000 |
Journalize the four entries required to close the accounts.