Adjustments and Closing Process--Basic Entries
Selected Ledger Accounts Used by Goldstone

Adjustments and closing process--basic entries
Selected ledger accounts used by Goldstone Advertising, Inc., are listed along with identifying numbers. Following this list of account numbers and titles is a series of transactions. For each transaction, you are to indicate the proper accounts to be debited and credited.
$$\begin{array} { | l | l | l | l | l | l | } \hline 1 & \text { Cash } & 22 & \text { Accounts Payable } & 41 & \text { Fees Earned } \\\hline 2 . & \text { Accounts Receivable } & 23 & \text { Income Taxes Payable } & 51 & \text { Salaries Expense } \\\hline 3 & \text { Office Supplies } & 24 & \text { Unearned Fees } & 52 & \text { Office Supplies Expense } \\\hline 4 & \text { Unexpired Insurance } & 30 & \text { Capital Stock } & 53 & \text { Rent Expense } \\\hline 5 & \text { Office Equipment } & 31 & \text { Retained Earnings } & 54 & \text { Insurance Expense } \\\hline 6 & \text { Accumulated Depr. } & 32 & \text { Dividends } & 55 & \text { Depreciation Expense: } \\\hline & \text { Office Equip } & 35 & \text { Income Summary } & & \text { Office Equip. } \\\hline 21 & \text { Dividends Payable } & & & 56 & \text { Income Taxes Expense } \\\hline & & & & & \\\hline\end{array}$$