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Unformatted text preview: 2,000 UNEARNED RENTAL INCOME 10,000 OWNERS EQUITY ALEJO, CAPITAL 1,507,000 ALEJO, WITHDRAWAL 3,000 TOTAL 1,640,500 1,640,500 Alejo Rent-a-Car Closing Entries DECEMBER 31, 2019 Car Rental Income 175,000 Income Summary 175,000 Income Summary 353,500 Gasoline Expnese 15,000 Insurance Expense 11,200 Repair and Maintenance 9,500 Depreciation Expense 300,000 Shop Supplies Expense 15,800 Commision Expense 2,000 C, Alejo Capital 178,500 Income Summary 178,500 C. Alejo, Capital 3,000 C. Alejo, Drawing 3,000 Alejo Rent-a-Car Post Closing Trial Balance DECEMBER 31,2019 Cash 120,000 Shop Suuplies 9,500 Prepaid Insurance 8,000 Cars 1,500,000 Accumulated Depreciation 300,000 Accrued Commision Expense 2,000 Unearned Rental Income 10,000 C. Alejo, Capital 1,325,000 P1,637,500 P1,637,500 R BER 31,2019 ADJUESTED TRIAL BALANCE INCOME STAEMENT BALANCE SHEET Debit Credit Debit Credit Debit Credit 120,000 120,000 9,500 9,500 1,500,000 1,500,000 8,000 8,000 300,000 300,000 2,000 2,000 10,000 10,000 1,507,000 1,507,000 3,000 3,000 175,000 175,000 15,000 15,000 11,200 11,200 9,500 9,500 300,000 300,000 15,800 15,800 2,000 2,000 1,994,000 1,994,000 353,500 175,000 1,640,500 1,640,500 178500...
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