Question - Selected accounts for Silver Shears Salon are presented below. All 30 June postings are from closing entries.
|
Salaries expense
|
|
10/6
|
3,200
|
30/6
|
8,800
|
|
28/6
|
5,600
|
|
|
|
|
|
|
|
Service revenue
|
|
30/6
|
16,100
|
15/6
|
7,700
|
|
|
24/6
|
8,400
|
|
|
|
|
|
Mary Stamos, Capital
|
|
30/6
|
2,500
|
1/6
|
12,000
|
|
|
30/6
|
3,000
|
|
|
Bal.
|
12,500
|
|
|
|
|
|
Supplies expense
|
|
12/6
|
600
|
30/6
|
1,300
|
|
24/6
|
700
|
|
|
|
|
|
|
|
Rent expense
|
|
1/6
|
3,000
|
30/6
|
3,000
|
|
|
|
|
|
Mary Stamos, Drawing
|
|
13/6
|
1,000
|
30/6
|
2,500
|
|
25/6
|
1,500
|
|
|
Required -
(a) Prepare the closing entries that were made.
(b) Post the closing entries to Profit or loss summary.