Selected accounts from the general ledger of Cullman Candle Company as of December 31, 2004, are

Selected accounts from the general ledger of Cullman Candle Company as of December 31, 2004, are shown below. Prepare the necessary closing entries.


Cash 23,000
Accounts Receivable 7,800
Supplies 900
Prepaid Insurance 1,750
Building 30,500
Accumulated
depreciation-building 3,500
office equipment 20,000
Accumulated depreciation 4,500
-office equipment Accounts payable 6,450
Unearned service Revenue 3,500
Salary payable 1,700
Common stock 39,000
Retained earnings 9,800
Dividends 2,000
Service revenue 30,400
Depreciation expense 700
-building depreciation expense 400
-office equipment
Insurance expense 250
supplies 300
utilities 2,600
salary expense 9,850 

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