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Problem - The partial worksheet for the Jamison Company showed the following data on October 31, 2019.
ACCOUNT NAME
INCOME STATEMENT
BALANCE SHEET
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
46,150
38,400
Net Income
7,750
Required - Prepare the closing entries for Jamison Company on October 31, 2019.
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