Respuesta :
The account summary is as follows
- Dr. Fees had a salary of 279,100.
- A breakdown of the revenue generated by Cr: 279,100
- The Honorable Dr. Oscar Killingsworth, Capital 5,500
- A summary of the income from Cr: 5,500
This is further explained below.
What is an account?
Generally, An account is a record that contains a summary of the relevant transactions that are associated with a certain head.
It not only tracks the monetary value of the transactions but also the consequences and outcomes of such transactions.
For instance, a cash account will detail every cash that has been received in addition to cash that has been paid out.
(Accounting: Statements of Financial Position) A thorough record of all the money that a person or company has received and spent is kept in what is known as an account.
In the method of accounting known as double entry, each debit and credit that is recorded in one account is likewise recorded in another account as either a credit or a debit.
In conclusion,
Comprehensive income report for Dr. 284,600
Wages Expense 221,600 ------Cr
Rent Expense 43,800 ------Cr
Supplies Expense 9,000 ------Cr
Miscellaneous Expense 10,200 ------Cr
Dr. Fees had a salary of 279,100.
A breakdown of the revenue generated by Cr: 279,100
The Honorable Dr. Oscar Killingsworth, Capital 5,500
A summary of the income from Cr: 5,500
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CQ
Closing Entries After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Twin Trees Landscaping Co.: Oscar Killingsworth, Capital $503,900 Oscar Killingsworth, Drawing 8,200 Fees Earned 279,100 Wages Expense 221,600 Rent Expense 43,800 Supplies Expense 9,000 Miscellaneous Expense 10,200 Journalize the two entries required to close the accounts. If an amount box does not require an entry, leave it blank.