Income Summary Assignment

Danos Company's partial worksheet for the month ended December 31, 2019, is shown below. Open the owner's capital account (account number 301) in the general ledger and record the December 1, 2019, balance of $79,000 shown on the worksheet

INCOME STATEMENT DEBIT CREDIT BALANCE SHEET ACCOUNT NAME DEBIT 24,500 25,e00 10,s00 67,000 CREDIT Cash Accounts Receivable Supplies Equipment Accum. Depr.- Equip. Accounts Payable D. Danos, Capital D. Danos, Drawing 23,000 20,000 79,000 7,500 55,e00 Fees Income Salaries Expense Rent Expense Supplies Expense Depr. Exp. -Equip. Totals Net Income 29,800 4,300 2,150 6,250 42,500 55,000 134,500 122,000 12,500 12,500 55,000 55,000 134,500 134,500 Prepare the closing entries for the Danos Company's on December 31, 2019. Post the closing entries to the owner's capital account Prepare a post-closing trial balance. Complete this question by entering your answers in the tabs below. General Journal General Trial Balance Ledger Prepare the closing entries for the Danos Company's on December 31, 2019. View transaction list Journal entry worksheet 2 3 Record entry to transfer fees income to income summary. Note: Enter debits before credits. Credit Debit General Journal Date Dec 31, 2019. Get Accounting homework help today

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