Question 4: (3 marks each for each entry, 3 marks for format, 30 marks in...
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Accounting
Question 4: (3 marks each for each entry, 3 marks for format, 30 marks in total) Given the following adjusted account balances in random order, prepare the closing entries for Sheer Fabrics on December 31, 2019. Cash Suzie Sheer, Capital Accounts payable Service revenue Amortization expense-building Salary expense Unearned service revenue Prepaid rent Supplies expense Note payable Land Accounts receivable Accum. amortization-building Interest revenue Interest payable Suzie Sheer, Withdrawals Rent expense Building Supplies Interest expense 35,000 85,000 33,000 84,000 12,000 29,000 24,000 9,000 6,000 71,000 65,000 32,000 12,000 14,000 3,000 20,000 15,000 95,000 4,000 4,000
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