Question : 43.Below the adjusted accounts of Millennium Realtors, Inc., for the : 1244546

 

43.Below are the adjusted accounts of Millennium Realtors, Inc., for the month ended May 31, 20×7, listed in alphabetical order:

 

Accounts Payable

$   400

 

Dividends

     $ 1,000

Accounts Receivable

3,600

 

Income Taxes Expense

100

Accumulated Depreciation–

 

 

Income Taxes Payable

100

 

Office Equipment

4,000

 

Land

1,500

Cash

1,150

 

Office Equipment

10,000

Commissions Revenue

7,500

 

Salaries Expense

2,300

Common Stock

8,000

 

Utilities Expense

150

Depreciation Expense–

 

 

 

 

 

Office Equipment

200

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In the journal provided, prepare Millennium’s closing entries (omit explanations).

 

General Journal

Page 1

Date

Description

Post.

Ref.

Debit

Credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

44.Below are the adjusted accounts of Slate Realtors, Inc., for the month ended Oct. 31, 20×7, listed in alphabetical order:

 

Accounts Payable

$ 1,100

 

Dividends

$ 1,500

Accounts Receivable

4,800

 

Income Taxes Expense

100

Accumulated Depreciation–

 

 

Income Taxes Payable

100

 

Office Equipment

6,000

 

Office Equipment

15,000

Cash

2,400

 

Prepaid Rent

2,200

Commissions Revenue

10,800

 

Retained Earnings

8,000

Common Stock

4,000

 

Salaries Expense

3,500

Depreciation Expense–

 

 

Utilities Expense

200

 

Office Equipment

300

 

 

 

 

In the journal provided, prepare Slate’s closing entries (omit explanations).

 

General Journal

Page 1

Date

Description

Post.

Ref.

Debit

Credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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