Solution-Prepare the journal entries at the end of the year

Prepare the journal entries at the end of the year

Assignment Help Cost Accounting

Reference no: EM13554756

The following adjusted trial balance is for Dream Home Realty Company:

DREAM HOME REALTY COMPANY Adjusted Trial Balance 2010 June 30
	Debits	Credits
Cash	$98,000
Accounts Receivable	40,000
Office Equipment	35,000
Accumulated Depreciation-Office Equipment		$14,000
Automobiles	40,000
Accumulated Depreciation-Automobiles		20,000
Accounts Payable		63,000
Capital Stock		75,000
Retained Earnings, 2009 July 1		54,700
Dividends	5,000
Commissions Revenue		170,000
Salaries Expense	25,000
Commissions Expense	120,000
Gas and Oil Expense	4,000
Rent Expense	14,800
Supplies Expense	1,400
Utilities Expense	2,000
Depreciation Expense-Office Equipment	3,500
Depreciation Expense-Automobiles	8,000
	$396,700	$396,700

Prepare the closing journal entries at the end of the fiscal year, 2010 June 30.

Reference no: EM13554756

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Prepare the journal entries at the end of the year

Reference no: EM13554756

Reference no: EM13554756

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