The ledger of Johnson Company includes the following accounts
with normal balances:
A. Johnson, Capital $12,000
A. Johnson, Withdrawals $1,800
Services Revenue $16,000
Rental Revenue $2,500
Wages Expense $3,200
Rent Expense $2,000
Insurance Expense $780
Prepare the necessary closing entries from the available information at December 31. (Note – you will have four entries)
A. Johnson, Capital $12,000
A. Johnson, Withdrawals $1,800
Services Revenue $16,000
Rental Revenue $2,500
Wages Expense $3,200
Rent Expense $2,000
Insurance Expense $780
Prepare the necessary closing entries from the available information at December 31. (Note – you will have four entries)
