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Recreate the closing entries

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Reference no: EM13492308

The following T-Accounts contain the Dec postings to the general ledger of Swoops, Inc.

The Dec 1 postings are beginning balances, while the Dec 31 postings are closing entries.

Recreate the closing entries made by Swoops on Dec 31

 

Service Revenue
Interest Expense
31-Dec 75,000 1-Dec 64,000
31-Dec 1,500 31-Dec 1,800


8-Dec 4,000
24-Dec 300  


24-Dec 3,000


 


31-Dec 4,000


 


 



 









Salaries Expense
Retained Earnings
1-Dec 15,000 31-Dec 17,000
31-Dec 2,500 1-Dec 51,550
15-Dec 1,000  

31-Dec 26,100 31-Dec 75,000
31-Dec 1,000  



 


 



 


 



 









Supplies Expense
Dividends
1-Dec 1,800 31-Dec 2,500
1-Dec 2,000 31-Dec 2,500
30-Dec 700  

15-Dec 500  


 



 


 



 


 



 









Depreciation Expense
Depreciation Expense
1-Dec 4,400 31-Dec 4,800
1-Dec 4,400 31-Dec 4,800
30-Dec 400  

30-Dec 400  


 



 


 



 


 



 
                 

Reference no: EM13492308

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