Reference no: EM132480907
The partial worksheet for the Jamison Company showed the following data on October 31, 2019.
INCOME BALANCE STATEMENT SHEET
ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT
Jason Jamison, Capital 34,500
Jason Jamison, Drawing 3,750
Fees Income 24,500
Salaries Expense 12,200
Rent Expense 1,450
Supplies Expense 850
Utilities Expense 950
Depr. Exp. -Equip. ___ 1,300 ______ _______ ______
Totals 16,750 24,500 46,150 38,400
Net Income 7,750 _______ _______ 7,750
24,500 24,500 46,150 46,150
Question 1: How do you enter these transactions in the closing entries for Jamison Company on October 31, 2019.
Question 2: How do you enter these transactions to transfer fees income to income summary.
Question 3: How do you enter these transactions to transfer expenses to income summary.
Question 4: How do you enter these transactions to transfer net income or net loss from income summary to capital.
Question 5: How do you enter these transactions to transfer drawings to capital account.