accounting help

hmw.xlsx

Sheet1

ANSWER:		Closing Entries
		Particulars	Debit	Credit
	a.	Computer Supplies Expenses	3,065.00
		To Computer Supplies		3065
		(3,645-508)
	b.	Insurance Expenses	555
		To Prepaid Insurance		555
	c.	Unpaid wages Expenses	(125*4)=500
		To Wages Payble		500
	d.	Depreciation Exp—Computer Equip	1250
		To Computer Equipment		1250
	e.	Depreciation Expense—Office Equip	400
		To office equipment		400
	f.	Rent Expenses	(3300*3/4)=2475
		To Prepaid Rent		2475
		Post Closing Trial Balance
		Particulars	Debit($)	Credit($)
		Cash	$58,160
		Accounts receivable	5,668
		Computer supplies	580
		Prepaid insurance	1,665
		Prepaid rent	825
		Office equipment	8,000
		Accumulated depreciation—Office equipment		$400
		Computer equipment	20,000
		Accumulated depreciation—Computer equipment		1250
		Accounts payable		1100
		Unearned computer services revenue		1500
		S.Rey Capital		83000
		S.Rey withdrawal	7100
		Computer services revenue		31284
		Depreciation expense—Office equipment	400
		Depreciation expense—Computer equipment	1250
		Wages expense	3,875
		Insurance expense	555
		Rent expense	2475
		Computer supplies expense	3065
		Advertising expense	2965
		Mileage expense	896
		Miscellaneous expenses	250
		Repair Expenses- computer	1305
		wages payable		500
		Total	119,034	$119,034