Question Worksheet and closing entries
The adjusted trial balance columns in the worksheet of Elliot Painting Services are as follows.
ELLIOT PAINTING SERVICES
for the year ended 30 June 2019
|Account||Adjusted trial balance||Income statement||Balance sheet|
|Cash at Bank||1,230|
|F. Elliot, Capital||101,500|
|F. Elliot, Drawings||22,000|
|Office Supplies Used||10,080|
|Profit for the period|
(a) Complete the worksheet.
(b) Prepare the closing entries necessary at 30 June 2019, assuming that this date is the end of the entity’s accounting period.
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