Clean Company offers laundry services to the residents of the community where it is located. After the books have been adjusted at June 30, the end of the fiscal year, the following accounts were taken from the company’s ledger:Eva Miranda, CapitalPhp 350,000Eva Miranda, Drawing60,000Laundry Revenue240,000Rent Expense72,000Supplies Expense24,000Utilities Expense42,000Wages Expense120,000 REQUIRED:Prepare the journal entries required to close the accounts.What is the ending balance of Eva Miranda, Capital after the closing entries were posted?

Name: Clean Company offers laundry services to the residents of the communit
Uploaded: 2024-03-04T10:43:15.000Z
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Description: Clean Company offers laundry services to the residents of the community where it is located. After the books have been adjusted at June 30, the end of the fiscal year, the following accounts were taken from the company’s ledger:Eva Miranda, CapitalPh

A closing journal entry is a diary entry made toward the finish of the bookkeeping time frame. It…

Answered: Clean Company offers laundry services…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter11: Work Sheet And Adjusting Entries

Section: Chapter Questions

Problem 2PA: The balances of the ledger accounts of Beldren Home Center as of December 31, the end of its fiscal...

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Clean Company offers laundry services to the residents of the community where it is located. After the books have been adjusted at June 30, the end of the fiscal year, the following accounts were taken from the company’s ledger:

Eva Miranda, Capital	Php 350,000
Eva Miranda, Drawing	60,000
Laundry Revenue	240,000
Rent Expense	72,000
Supplies Expense	24,000
Utilities Expense	42,000
Wages Expense	120,000

REQUIRED:

Prepare the journal entries required to close the accounts.
What is the ending balance of Eva Miranda, Capital after the closing entries were posted?

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