Cullumber Company had the following adjusted trial balance. **************please

Question

Cullumber Company had the following adjusted trial balance.

**************please use the same format and number of boxes so its easy to transfer**********************************

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 Titles Credit $3,500 4,100 600 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 $1,500 140 4,500 530 5,870 1,200 320 2,390 630 $12,640 $12,640 Prepare closing entries at June 30, 2020. (Credit account titles are automatically indented w

Explanation / Answer

Closing Entries

1) As given above

2) As given above

3) Income Summary a/c Dr. 1960

To Retained Earnings 1960

4) Retained earnings a/c Dr. 530

To owner's Drawing 530

Trial Balance

DR. CR.

Account receivable 4100

Supplies 600

Account payable 1500

Unearned service revenue 140

Owner capital 4500

Salary payable 630

cash 3500

Retained earning 1430

--------- --------

8200 8200

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