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1. The End of the Accounting Cyde-the closing process (The return of Jam J!): Jam J, Corp provides guitar lessons to customer
Total SHE Jam J, Inc. Statement of Shareholders Equity For the period ended December 31, 2017 Common Stock Retained Earnings
Jam J, Inc. Balance Sheet As of December 31, 2017 ASSETS Current Assets: Cash A/R Supplies $21,325 16,560 1,630 39,515 Total
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Credit Calculation Jam J, Inc. Closing Journal entries Date Account 31-Dec Service Revenue Clos. (1) Income Summary To closeJam J, Inc. T Accounts Date Credit Date Credit Date Credit Debit Date Income Summary $165,705 Clos. (1) $ 29,870 Debit Date RJam J, Inc. Account Names Cash Accounts Receivable Supplies Building Accumulated Depreciation-Building Accounts Payable Defer

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