Closing One

CASH ACCOUNTS RECEIVABLE OFFICE SUPPLIES PREPAID INSURANCE ACCOUNTS PAYABLE NOTES PAYABLE TAXES PAYABLE ISDO CAPITAL ISDO DRAWING REVENUE SALARY EXPENSE RENT EXPENSE UTILITIES EXPENSE DEPRECIATION EXPENSE TOTAL 2,500 3,400 3,500 5,500 2,500 27,500 2,500 3,500 1,800 2,300

Closing Two

CASH ACCOUNTS RECEIVABLE OFFICE SUPPLIES PREPAID INSURANCE ACCOUNTS PAYABLE NOTES PAYABLE TAXES PAYABLE ISDO CAPITAL ISDO DRAWING REVENUE SALARY EXPENSE RENT EXPENSE UTILITIES EXPENSE DEPRECIATION EXPENSE TOTAL

10,000 26,000 27,500 15,000

6,500 23,000 15,000 65,000 18,000 206,000

Closing entries Service Revenue Income Summary

2,500 1,500 1,500 4,500 Capital 17,500 Income Summary

27,500

Closing entries Service Revenue Income Summary 18,000 13,000 15,000 16,000 Income Summary 144,000 Capital

206,000

17,500 Revenue 14,900 SALARY EXPENSE RENT EXPENSE UTILITIES EXPENSE DEPRECIATION EXPENSE 2,600 Capital 2,500 Withdrawals 2,500 2,600 3,400 3,500 5,500 2,500 17,500

144,000 Revenue 121,000 SALARY EXPENSE RENT EXPENSE UTILITIES EXPENSE DEPRECIATION EXPENSE 23,000 Capital 65,000 Withdrawals 6,500 23,000 23,000 15,000 65,000 18,000 144,000

Posting Salary Expense Bal 3,400 Clo 2 3,400 Rent Expense Bal 3,500 Clo 2 3,500 Utilities Expense Bal 5,500 Clo 2 5,500 Income Summary Clo 2 14,900 Clo 3 2,600

Depreciation Expense Bal 2,500 Clo 2 2,500

Posting Salary Expense Bal 23,000 Clo 2 23,000 Rent Expense Bal 15,000 Clo 2 15,000 Utilities Expense Bal 65,000 Clo 2 65,000 Depreciation Expense Bal 18,000 Clo 2 18,000

Income Summary Clo 2 121,000 Clo 3 23,000

Service Revenue Clo 1 17,500 Bal 17500 Clo 1 17,500 Bal 2,600 Withdrawals Bal 2,500 Clo 4 2,500

ummary

Capital Clo 4 2,500 4,500 Clo 3 2,600 Bal 4,600

Service Revenue Clo 1 121,000 Bal 121,000 Withdrawals Bal 6,500 Capital Clo 4 6,500

ummary Clo 1 17,500 Bal 23,000

Clo 4 6,500

16,000 Clo 3 23,000 Bal 32,500