Question

Exercise 4-07 a-b (Video) Cullumber Company had the following adjusted trial balance. Cullumber Company Adjusted Trial Balance For the Month Ended June 30, 2020 . Adjusted Trial Balance Debit Account Tities Credit $3,780 3,810 540 Cash Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Owner's Capital Owner's Drawings Service Revenue Salaries and Wages Expense Miscellaneous Expense Supplies Expense Salaries and Wages Payable $1,800 120 4,200 700 5,670 1,400 280 1,740 460 $12250 $12,250 Prepare closing entries at June 30, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Account Titles and Explanation 1. Debit Credit

Answer 1

1	Service revenue	5670
	Income Summary		5670
2	Income Summary	3420
	Salaries and wages expense		1400
	Miscellaneous expense		280
	Supplies expense		1740
3	Income Summary	2250		(5670-3420)
	Owner's Capital		2250
4	Owner's Capital	700
	Owner's Drawings		700
	CULLUMBER COMPANY
	Post-closing Trial Balance
	For the month ended June 30,2020
		Debit	Credit
	Cash	3780
	Accounts Receivable	3810
	Supplies	540
	Accounts payable		1800
	Salaries and wages payable		460
	Unearned service revenue		120
	Owner's Capital		5750
	Totals	8130	8130