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Prepare the closing entries for jamison company

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Question

The partial worksheet for the Jamison Company showed the following data on October 31, 2019.

INCOME STATEMENT BALANCE

SHEET ACCOUNT NAMEDEBIT CREDIT DEBIT CREDIT Jason Jamison, Capital 31,500 Jason Jamison, Drawing 2,250 Fees Income 21,500 Salaries Expense11,000 Rent Expense1,150 Supplies Expense550 Utilities Expense650 Depr. Exp. -Equip.1,000 Totals14,350 21,500 43,150 36,000 Net Income7,150 7,150 21,500 21,500 43,150 43,150

Prepare the closing entries for Jamison Company on October 31, 2019.

Reference no: EM132366585

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