Ledger Accounts of Internet Company Assignment | Top Universities

The ledger accounts of AXX Internet Company appear as follows on March 31, 2019 ACCOUNT NO. ACCOUNT BALANCE $ 64,000 101 Cash Accounts Receivable 121 Supplies 131 Prepaid Insurance 141 Equipment 142 Accumulated Depreciation-Equipment 202 Accounts Payable Aretha Hinkle, Capital Aretha Hinkle, Drawing 111 35,760 9,000 23,400 102,000 39,720 11,400 114,000 11,400 301 302 401 Fees Income 308, 200 19,560 9,800 31,400 150,000 4,e00 5,200 7,800 51e Depreciation Expense-Equipment Insurance Expense Rent Expense Salaries Expense 518 Supplies Expense Telephone Expense Utilities Expense 511 514 517 519 523 All accounts have normal balances.

Required: 1. Prepare the closing entries. 2. Post the transactions into the appropriate ledger accounts. Hint: Be sure to enter beginning balances. Journal entry worksheet 2 3 4 Record the closing entry for revenue. Note: Enter debits before credits. Date General Journal Debit Credit Mar 31, 2019, Record entry Clear entry View general journal Post the transactions into the appropriate ledger accounts. Hint: Be sure to enter beginning balances. Aretha Hinkle, Capital Aretha inkle, Drawing Account No. 301 Account No. 302 Date Debit Credit Balance Mar 31, 2019, Mar 31, 2019, Mar 31, 2019, Mar 31, 2019, Income Summary Fees Income Account No. 401 Account No. 399 Date Debit Debit Credit Balance Date Mar 31, 2019, Mar 31, 2019, Mar 31, 2019, Mar 31, 2019, Mar 31, 2019 Insurance Expense Account No. 510 Account No.511 Depreciation Expense-Equipment Credit Balance Date Debit Balance Credit Date Debit Mar 31, 2019, Mar 31, 2019, Mar 31, 2019, Mar 31, 2019 Salaries Expense Rent Expense Account No. 514 Account No. 517 Credit Debit Balance Date Date Debit Credit Balance Mar 31, 2019, Mar 31, 2019, Mar 31, 2019, Mar 31, 2019 Supplies Expense Telephone Expense Account No. 519 Account No. 518 Date Debit Debit Credit Balance Date Mar 31, 2019, Mar 31, 2019, Mar 31, 2019, Mar 31, 2019 Utilities Expense Account No. 523 Credit Date Debit Balance Mar 31, 2019, Mar 31, 2019. Get Accounting homework help today