Creative Images Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at July 31, the end of the fiscal year, the following balances were taken from the ledger of Creative Images Co.: Violet Lozano, Capital $930,000
Violet Lozano, Drawing 12,000
Fees Earned 694,400
Wages Expense 471,000
Rent Expense 69,500
Supplies Expense 11,100
Miscellaneous Expense 14,900
Required: Journalize the two entries required to close the accounts.
Post-Closing Trial Balance
An accountant prepared the following post-closing trial balance:
La Casa Services Co.
Post-Closing Trial Balance
March 31, 20Y6
Debit Balances Credit Balances
Cash 12,700
Accounts Receivable 28,190
Supplies 1,780
Equipment 125,600
Accumulated Depreciation 41,910
Accounts Payable 15,240
Salaries Payable 1,400
Unearned Rent 5,720
Sonya Flynn, Capital 104,000
207,760 128,780
Prepare a corrected post-closing trial balance.

Answer and Explanation:

The journal entries are shown below:

Fees Earned 694,400

         To Wages Expense 471,000

        To Rent Expense 69,500

        To Supplies Expense 11,100

        To Miscellaneous Expense 14,900

        To Violet Lozano, Capital 127,900

Violet Lozano, Capital 12,000

          To Violet Lozano, Drawing 12,000

 Now the post trail balance is

Cash                            12,700

Accounts Receivable 28,190

Supplies                     1,780

Equipment               125,600

Accumulated Depreciation             41,910

Accounts Payable                            15,240

Salaries Payable                                1,400

Unearned Rent                                   5,720

Sonya Flynn, Capital                        104,000

Totals                 168,270                 168,270

start by isolating the variable on one side by adding 43w^2 to both sides.   the equation will read:

25w^2+5=0

*subtract 5 from both sides*

25w^2=-5

*divide both sides by 25*

w^2=-1/5

*take the square root of both sides*

w=√(-1/5)

the square root of -1 is i.   the square root of 5 remains √5

the answer is i/√5.

hope this

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explanation: