(Solution) 12/9/2015 Brief Exercise 46 Print By: Brandon Jackson AB114: Accounting I 1505A03 / 114 Unit 5 Assignment *Brief Exercise 46 The Income Statement For... | Snapessays.com


(Solution) 12/9/2015 Brief Exercise 46 Print by: Brandon Jackson AB114: Accounting I 1505A03 / 114 Unit 5 Assignment *Brief Exercise 46 The income statement for...


Can I please get some help with the following assignment that is attached.12/9/2015

 

Brief Exercise 4­6

 

http://edugen.wiley.com/edugen/shared/assignment/test/qprint.uni

 

1/1

 

Question Attempts: 0 of 5 used

 

Print by: Brandon Jackson

 

AB114: Accounting I ­ 1505A­03 / 114 Unit 5 Assignment

 

*Brief Exercise 4­6

 

The income statement for Weeping Willow Golf Club for the month ending July 31 shows Service Revenue

 

$16,589, Salaries and Wages Expense $7,919, Maintenance and Repairs Expense $1,765, and Net

 

Income $6,905.

 

Prepare the entries to close the revenue and expense accounts.

 

(Credit account titles are

 

automatically indented when amount is entered. Do not indent manually.)

 

Date

 

Account Titles and Explanation

 

Debit

 

Credit

 

July 31

 

(To close revenue accou

 

nt.

 

)

 

July 31

 

(To close expense accounts.)

 

Post the entries to the revenue and expense accounts, and complete the closing process for these

 

accounts using the three­column form of account.

 

Service Revenue

 

Date Explanation Ref

 

Debit

 

Credit

 

Balance

 

7/31

 

Balance

 

7/31

 

Closing entry

 

Salaries and Wages Expense

 

Date Explanation Ref

 

Debit

 

Credit

 

Balance

 

7/31

 

Balance

 

7/31

 

Closing entry

 

Maintenance and Repairs Expense

 

Date Explanation Ref

 

Debit

 

Credit

 

Balance

 

7/31

 

Balance

 

7/31

 

Closing entry

 

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