Prepare the closing entries for rd consulting on december

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Reference no: EM132464638

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

Account Name

Balance

Cash

7,600

Accounts Receivable

2,200

Supplies

2,050

Prepaid Insurance

760

Equipment

20,000

Accumulated Depreciation-Equipment

4,250

Accounts Payable

3,400

Roger Dye, Capital

16,300

Roger Dye, Drawing

4,100

Fees Income

19,300

Supplies Expense

810

Insurance Expense

660

Depreciation Expense-Equipment

610

Salaries Expense

3,400

Utilities Expense

1,060

Required -

1. Prepare the Balance Sheet and Income Statement columns of the worksheet.

2. Prepare the closing entries for RD Consulting on December 31, 2019. All accounts have normal balances and adjusting entries have been made.

Reference no: EM132464638

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