33. Following are selected accounts and their balances for a company after the adjustments as at May 31, the end of its fiscal year. (All accounts have normal balances.) Dividends $ 6,000 Fees earned 20,000 Salaries expense 7,000 Insurance expense 350 Utilities expense 75 Supplies expense 500 Supplies payable 400 Salaries payable 300 Depreciation expense 425 Prepare all the necessary closing entries for this company.

33. Following are selected accounts and their balances for a company after the adjustments as at May 31, the end of its fiscal year. (All accounts have normal balances.) Dividends $ 6,000 Fees earned 20,000 Salaries expense 7,000 Insurance expense 350 Utilities expense 75 Supplies expense 500 Supplies payable 400 Salaries payable 300 Depreciation expense 425 Prepare all the necessary closing entries for this company.

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 5PA: The following selected accounts and their current balances appear in the ledger of Clairemont Co....

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