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Prepare the closing entries at June

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Question - The adjusted trial balance of K&C Ltd at 30 June is as follows.

Trial balance as 30 June

Dr Cr

Cash at bank 15,750

Accounts receivable 6,800

Office supplies inventory 600

Equipment 32,000

Accumulated depreciation - equipment 1,750

Accounts payable 1,840

Salaries payable 1,800

Interest payable 250

Rent revenue received in advance 500

Bank Loan 15,000

Share capital 23,500

Retained earnings 1,500

Dividends 600

Sales revenue 18,600

Rent revenue 12,000

Salaries expense 11,340

Rent expense 6,000

Depreciation expense - equipment 1,750

Supplies expense 900

Electricity expense 750

Interest expense 250

76,740 76,740

Required - Prepare the closing entries at 30 June?

Reference no: EM132692117

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