Reference no: EM132480903

The adjusted ledger accounts of RD Consulting on December 31, 2019, appear as follows.

Account Name                                           Balance

Cash                                                  7,400

Accounts Receivable                             2,100

Supplies                                              1,950

Prepaid Insurance                                     740

Equipment                                          19,000

Accumulated Depreciation-Equipment         3,950

Accounts Payable                                  3,300

Roger Dye, Capital                                15,900

Roger Dye, Drawing                                 3,900

Fees Income                                        18,300

Supplies Expense                                      790

Insurance Expense                                    640

Depreciation Expense-Equipment                  590

Salaries Expense                                   3,300

Utilities Expense                                      1,040

Question 1: How do you enter these transactions in the Balance Sheet and Income Statement columns of the worksheet. How do you enter these transactions in the closing entries for RD Consulting on December 31, 2019. All accounts have normal balances and adjusting entries have been made.