Use the following account balances from the adjusted trial balance of Flora Wholesalers: Account Debit Balance Credit Balance Cash $ 4,200 Accounts receivable $ 300 Accounts payable $ 1,100 H. Jones, Capital $ 4,400 H. Jones, Drawing $ 900 Fees revenue $ 13,200 Advertising expense $ 8,100 Travel expense $ 4,200 Shipping expense $ 300 Computer software expense $ 400 Which of the following would be the fourth entry in the closing process for Flora Wholesalers? Multiple Choice Account Name Debit Credit H. Jones, Capital 900 H. Jones, Drawing 900 Account Name Debit Credit H. Jones, Drawing 900 H. Jones, Capital 900 Account Name Debit Credit Income summary 13,200 Fees revenue 13,200 Account Name Debit Credit Fees revenue 13,200 Income summary 13,200

Use the following account balances from the adjusted trial balance of Flora Wholesalers: Account Debit Balance Credit Balance Cash $ 4,200 Accounts receivable $ 300 Accounts payable $ 1,100 H. Jones, Capital $ 4,400 H. Jones, Drawing $ 900 Fees revenue $ 13,200 Advertising expense $ 8,100 Travel expense $ 4,200 Shipping expense $ 300 Computer software expense $ 400 Which of the following would be the fourth entry in the closing process for Flora Wholesalers? Multiple Choice Account Name Debit Credit H. Jones, Capital 900 H. Jones, Drawing 900 Account Name Debit Credit H. Jones, Drawing 900 H. Jones, Capital 900 Account Name Debit Credit Income summary 13,200 Fees revenue 13,200 Account Name Debit Credit Fees revenue 13,200 Income summary 13,200

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 7SEA

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Account	Debit Balance	Credit Balance
Cash	$ 4,200
Accounts receivable	$ 300
Accounts payable		$ 1,100
H. Jones, Capital		$ 4,400
H. Jones, Drawing	$ 900
Fees revenue		$ 13,200
Advertising expense	$ 8,100
Travel expense	$ 4,200
Shipping expense	$ 300
Computer software expense	$ 400

Account Name	Debit	Credit
H. Jones, Capital	900
H. Jones, Drawing		900

Account Name	Debit	Credit
H. Jones, Drawing	900
H. Jones, Capital		900

Account Name	Debit	Credit
Income summary	13,200
Fees revenue		13,200

Account Name	Debit	Credit
Fees revenue	13,200
Income summary		13,200

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