Journalize the closing entries.

The Boulton's Toy Emporium

journal template with colour clues is on Worksheet
the next Excel Sheet. For the Month Ended October 2015

Acc. Trial Balance Adjustments

Accounts
No. DR CR DR CR

Bank 101 ### - 731.25

Accounts Receivable 105 ### 202.55
Allowance for Doubtful Account106 613.80 202.55 536.71
Merchandise Inventory 110 ###
Supplies 115 ###
Prepaid Insurance 120 7,400.00 616.67
Prepaid Rent 122 3,200.00 266.67
Office Furniture 135 ###
Acc. Amort. - Furniture 137 ### 330.08
Office Equipment 140 ###
Acc. Amort. - Equipment 141 ### 530.47
Delivery Truck 180 ###
Acc. Amort. - Truck 181 ### 292.50
Accounts Payable 201 ### 438.70
HST Payable 205 ###
HST Recoverable 206 7,101.70 28.70
Loan Payable 210 ###
Mortgage Payable 215 ###
J. Boulton, Capital 301 ###
J. Boulton, Drawings 305 3,534.00
Sales Revenue 401 ###
Sales Returns 402 2,720.00
Sales Discounts 403 994.65
Purchases 501 410.00
Purchase Returns 502 640.00
Purchase Discounts 503 3.80
Frieght-in 504 300.00
Advertising Expense 601 421.20
Bad Debt Expense 603 536.71
Car Expense 605 486.00
Amort. Expense - Furniture 610 10.86 330.08
Amort. Expense - Equipment 615 27.77 530.47
Amort. Expense - Truck 640 292.50
Frieght-out 645 2,110.00
Loss on Sale of Assets 660 4,830.90
Maintenance Expense 665 1,080.00
Miscellaneous Expense 670 810.00
Utilities Expense 685 2,180.00
### ###
Interest Expense 655 731.25
Supplies Expense 680 -
Insurance Expense 650 616.67
Rent Expense 675 266.67
### ###
###
lton's Toy Emporium
Worksheet
Month Ended October 2015

Income Statement Balance Sheet

DR CR DR CR

###
###
947.96
### ### ###
###
6,783.33
2,933.33
###
###
###
###
###
###
###
###
7,130.40
###
###
###
3,534.00
###
###
994.65
410.00
640.00
3.80
300.00
421.20
536.71
486.00
340.94
558.24
292.50
###
###
###
810.00
###

731.25
 -
616.67
266.67
### ###
### ### ###
### 6,130.74
### ###
### ### ###
 General Journal Page: 92
Date
Particulars P.R. Debit Credit
2015
Closing Entries

July 31 Merchandise Inventory 59,022.67

Sales Revenue 30,550.00
Purchase Returns 640.00
Purchase Discounts 3.80
Income Summary 90,216.47

31 Income Summary 84,085.73

Merchandise Inventory 64,400.00
Sales Returns 2,720.00
Sales Discounts 994.65
Purchases 410.00
Frieght-in 300.00
Advertising Expense 421.20
Bad Debt Expense 536.71
Car Expense 486.00
Frieght-out 2,110.00
Amort. Expense - Furniture 340.94
Amort. Expense - Equipment 558.24
Amort. Expense - Truck 292.50
Insurance Expense 616.67
Interest Expense 731.25
Loss on Sale of Assets 4,830.90
Maintenance Expense 1,080.00
Miscellaneous Expense 810.00
Rent Expense 266.67
Utilities Expense 2,180.00

31 Income Summary 6,130.74

J. Boulton, Capital 6,130.74

31 J. Boulton, Capital 3,534.00

J. Boulton, Drawings 3,534.00

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J. Boulton
07/05/2019