Accounting: Bob Knight - Closing entries, financial statemen
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Income summary, owner's equity, balance sheet, post-closing trial balance to finish this project.
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Bob Night, income summary, owner's equity, balance sheet, post-closing trial balance
Income summary is the closing entries where you need to close the temporary accounts.
April 30 Registration Fees 171,700
Income Summary 171,700
April 30 Income Summary 117,450
Rent Expense 40,000
Wages Expense 40,500
Utilities Expense 2,000
Postage Expense 150
Telephone Expense 1,200
Depreciation Expense 1,000
Office Supply Expense 400
Food Supply Expense 30,700
Insurance Expense 1,500
April 30 Bob Night, Capital 6,000
Bob Night, Drawing 6,000
April 30 Income Summary 54,250
Bob Night, Capital 54,250
BOB NIGHT
Income Statement
For the Month Ended April 30, 20XX
Registration Fees 171,700
Operating Expenses
Rent Expense 40,000 ...
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