After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Nuclear Landscaping Co.: Felix Godwin, Capital $318,490 Felix Godwin, Drawing 38,000 Fees Earned 381,030 Wages Expense 294,900 Rent Expense 70,800 Supplies Expense 26,540 Miscellaneous Expense 8,845 Journalize the two entries required to close the accounts. For a compound transaction, if an amount box does not require an entry, leave it blank.

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Business

Emery Phelps

6 July, 20:17

After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Nuclear Landscaping Co.: Felix Godwin, Capital $318,490 Felix Godwin, Drawing 38,000 Fees Earned 381,030 Wages Expense 294,900 Rent Expense 70,800 Supplies Expense 26,540 Miscellaneous Expense 8,845 Journalize the two entries required to close the accounts. For a compound transaction, if an amount box does not require an entry, leave it blank.

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Sidney Thomas · Answer 1

Apr-30

Dr Felix Godwin, Capital 20,055

Dr Fees earned 381,030

Cr Wages expense 294,900

Cr Rent expense 70,800

Cr Supplies expense 26,540

Cr Miscellaneous expense 8,845

Apr-30

Dr Felix Godwin, Capital 38,000

Cr Felix Godwin, Drawing 38,000