The ledger of Mai Company includes the following accounts with normal balances as of December 31: D. Mai, Capital $10,100; D. Mai, Withdrawals $1,350; Services Revenue $24,000; Wages Expense $13,900; and Rent Expense $3,800. Prepare its December 31 closing entries. View transaction list Journal entry worksheet < 1 2 3 4 Record the entry to close revenue accounts. >

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The ledger of Mai Company includes the following accounts with normal balances as of December 31: D. Mai, Capital $10,100; D. Mai,
Withdrawals $1,350; Services Revenue $24,000; Wages Expense $13,900; and Rent Expense $3,800.
Prepare its December 31 closing entries.
View transaction list
Journal entry worksheet
1
2 3
Record the entry to close revenue accounts.
Note: Enter debits before credits.
Date
December
31
4
Record entry
General Journal
Clear entry
Debit
Credit
View general journal
>
Transcribed Image Text:The ledger of Mai Company includes the following accounts with normal balances as of December 31: D. Mai, Capital $10,100; D. Mai, Withdrawals $1,350; Services Revenue $24,000; Wages Expense $13,900; and Rent Expense $3,800. Prepare its December 31 closing entries. View transaction list Journal entry worksheet 1 2 3 Record the entry to close revenue accounts. Note: Enter debits before credits. Date December 31 4 Record entry General Journal Clear entry Debit Credit View general journal >
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