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Ellis Cleaners and Laundry

Ellis Cleaners and Laundry - Retained Earnings 26,400...

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The end of the period account balances after adjustments of Ellis Cleaners and Laundry are as follows: Account Balances (After Adjustments) Cash $ 9,000 Cleaning Supplies 3,500 Prepaid Rent 3,600 Equipment 128,000 Accumulated Depreciation—Equipment 20,000 Accounts Payable 8,500 Common Stock 80,000
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Unformatted text preview: Retained Earnings 26,400 Dividends 15,000 Dry Cleaning Revenues 28,000 Laundry Revenues 4,000 Cleaning Supplies Expense 5,000 Depreciation Expense 3,000 Rent Expense 900 Salaries Expense 2,400 Utilities Expense 500 Instructions Prepare the end of the period closing entries for Ellis Cleaners and Laundry. You may omit journal entry explanations....
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