11.

Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Cash 16,000 16,000 Accounts Receivable 6,000 6,000 Supplies 2,000 2,000 19,000 Equipment 19,000 Accumulated Depr. 6,000 6,000 Accounts Payable 10,000 Wages Payable 2,000 5,000 10,000 2,000 5,000 6,070 Common Stock Retained Earnings 6,070 Dividends 1,000 1,000 Fees Earned 47,867 47,867 Wages Expense 21,344 21,344 Rent Expense 5,817 5,776 5,817 5,776 Depreciation Expense Totals 76,937 76,937 32,937 47,867 44,000 29,070 Totals 76,937 76,937 47,867 44,000 29,070 Net Income (Loss) 32,937 14,930 47,867 14,930 47,867 44,000 44,000 The entry to close Dividends would be Oa. debit Retained Earnings, $13,930; credit Common Stock, $13,930 Ob. debit Dividends, $32,937; credit Retained Earnings, $32,937 c. debit Retained Earnings, $14,930, credit Dividends, $14,930 Od. debit Common Stock, $11,070; credit Retained Earnings, $11,070