Services to individuals desiring to improve personal images

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Reference no: EM13826905

(Journalize the closing entries for Bob’s Service Inc at May 31, 2015 the end of the fiscal year.)

Bob’s Service Inc offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at May 31, 2005, the end of the fiscal year the following balances were taken from the ledger of Bob’s Service Inc. Journalize the closing entries.

Fees Earned $ 410,500 Rent Expenses $ 85,000

Retained Earnings $ 225,450 Supplies Expense $ 25,000

Dividends $ 193,450 Miscellaneous Expenses $ 21,000

Wages Expense $ 123,400

Reference no: EM13826905

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