General

Journal J14 Date Dec. 31 Dec.31 Account titles and explanation Service Revenue Income Summary Income Summary Advertising Expense Supplies Expense Depreciation Expense Insurance Expense Salaries and Wage Expense Interest Expense Income Summary Owner's Capital Owner's Capital Owner's drawings Ref. 400 350 Dr. 61,000.00 50,100.00 10,900.00 7,000.00 Cr. 61,000.00 8,400.00 4,000.00 5,600.00 3,500.00 28,000.00 600.00 10,900.00 7,000.00

350 610 631 711 722 726 905 350 301 301 306

Dec.31

Dec.31

 Owners Capital No. 301 Date Jan 1 Dec 31 Dec 31 Owners Drawing No. 306 Date Dec 31 Dec 31 Income Summary No. 350 Date Dec 31 Dec 31 Dec 31 Account titles and explanation Closing Entry Closing Entry Closing Entry Ref. J14 J14 Dr. 50,100 10,900 Cr. 61,000 Balance 61,000 10,900 0 Account titles and explanation Balance Closing Entry Ref. J14 J14 Dr. 7,000 Cr. 7,000 Balance 7,000 0 Account titles and explanation Balance Closing Entry Closing Entry Ref. J14 J14 Dr. 7,000 Cr. 13,000 10,900 Balance 13,000 23,900 16,900

Service Revenue No.400 Date Dec 31 31 Advertising Expense No.610 Date Dec 31 31 Date 31 31 Date 31 31 Depreciation Expense No.711 Account titles and explanation Balance Closing entry Ref. J14 Dr. 5,600 Cr. 5,600 Balance 5,600 0 Account titles and explanation Balance Closing entry Ref. J14 Dr. 8,400 Cr. 8,400 Balance 8,400 0 Account titles and explanation Balance Closing entry Ref. J14 Dr. 61,000 Cr. 61,000 Balance 61,000 0

Supplies Expense No.631 Account titles and explanation Balance Closing entry Ref. J14 Dr. 4,000 Cr. 4,000 Balance 4,000 0

 Insurance Expense No.722 Date 31 31 Salaries Expense No.726 Date 31 31 Interest Expense No.905 Date 31 31 Account titles and explanation Balance Closing entry Ref. J14 Dr. 600 Cr. 600 Balance 600 0 Account titles and explanation Balance Closing entry Ref. J14 Dr. 28,000 Cr. 28,000 Balance 28,000 0 Account titles and explanation Balance Closing entry Ref. J14 Dr. 3,500 Cr. 3,500 Balance 3,500 0