Accounting and Finance Foundations

Unit 7

Accounting and Finance Foundations Unit 7: Financial Statements 629

Financial StatementsOpen-Response Unit Assessment S/T Guide

Use the journal vouchers provided below to create closing entries for Ava’s business.

The Income Summary account is General Ledger account #360.

Ava’s Interpreting Services

Journal Voucher

NO:0012

Office: __________________________ Month: _________________ Year: ___________

Ref.

No. Description

General

Ledger

Account

Debit Credit

JE12

To close the revenue and expenses to the

Income Summary account for accounting

period ending December 31, 20YY.

Column Totals

Prepared by: __________________________________ Date: ______________

Authorized by: _________________________________ Date: ______________

December 20YY

12/31/20YY

12/31/20YY

1234 Office

Tasks (cont’d)