As of December 31, the end of the current year, the ledger of Harris Company contained the following account balances after adjustment. All accounts have normal balances.Cash $12,328 C. Harris, Drawing $2,182Equipment 16,962 Professional Fees 10,356Accumulated Depreciation, Equipment 3,822 Wages Expense 1,849Accounts Payable 2,441 Rent Expense 1,590Wages Payable 949 Depreciation Expense, Equipment 1,664C. Harris, Capital 19,500 Miscellaneous Expense 493Required:Journalize the closing entries. If an amount box does not require an entry, leave it blank.GENERAL JOURNALPAGE      DATEDESCRIPTIONDOC. NO. POST. REF.DEBITCREDIT20--Closing Entries Dec. 31Professional Fees            Income Summary         Dec. 31Income Summary            Wages Expense            Rent Expense            Depreciation Expense, Equipment            Miscellaneous Expense         Dec. 31Income Summary            C. Harris, Capital         Dec. 31C. Harris, Capital            C. Harris, Drawing

Question
Asked Oct 17, 2019

As of December 31, the end of the current year, the ledger of Harris Company contained the following account balances after adjustment. All accounts have normal balances.

Cash   $12,328   C. Harris, Drawing   $2,182
Equipment   16,962   Professional Fees   10,356
Accumulated Depreciation, Equipment   3,822   Wages Expense   1,849
Accounts Payable   2,441   Rent Expense   1,590
Wages Payable   949   Depreciation Expense, Equipment   1,664
C. Harris, Capital   19,500   Miscellaneous Expense   493

Required:

Journalize the closing entries. If an amount box does not require an entry, leave it blank.


GENERAL JOURNAL PAGE      
DATE DESCRIPTION DOC. NO.   POST. REF. DEBIT CREDIT
20-- Closing Entries  
Dec. 31 Professional Fees           
       Income Summary           
     
Dec. 31 Income Summary           
       Wages Expense           
       Rent Expense           
       Depreciation Expense, Equipment           
       Miscellaneous Expense           
     
Dec. 31 Income Summary           
       C. Harris, Capital           
     
Dec. 31 C. Harris, Capital           
       C. Harris, Drawing           
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Closing entries:

 

Closing entries are those journal entries, which are passed to transfer the final balances of temporary accounts, (all revenues account, a...

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