Blanchisserie Synergy

Closing Entries
Date
1
2
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4
5
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10
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32

Particulars

Debit

Credit

2015

Dec

31 Revenue
Income Summary
To close income account.

1 1 1 4 5 0
1

31 Income Summary
Advertising Expense
Supplies Expense
Insurance Expense
Interest Expense
Salaries Expense
Utilities Expense
Depreciation Expense
To close expense accounts.

5 7 4 6 0

31 Income Summary
Income Taxes Payable
To record the income tax
liability.

1 6 1 9 7

31 Income Summary
Djanella, Drawing
Cherrie, Drawing
Carol, Drawing
Kyria, Drawing
Princess, Drawing
Katrina, Drawing
To record the profit share
of each partner.

3 7 7 9 3

Credit

1 1 4 5 0

5 0 0 0
1 8 4 6 0
1 0 0 0
5 0 0
1 2 0 0 0
1 8 0 0 0
2 5 0 0

1 6 1 9 7

4
4
2
8
2
1 5

3
9
4
6
4
0

1
2
6
2
6
0

2
8
4
4
4
0

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
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27
28
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30
31
32