A company has the following account balances. They are now doing their closing entries. This company uses an income summary account to close the accounts, then income summary gets closed into retained earnings.

During the closing process, what is the total dollar amount initially DEBITED to income summary? (you should assume that the balances given are the "normal" balances for the account - as far as whether the amount listed is a debit or credit).

Supplies Expense	3,847
Service Revenue	69,136
Accounts Payable	9,926
Salaries Expense	11,477
Dividends	1,534
Equipment	51,944
Accumulated Depreciation	21,044
Depreciation Expense	3,507
Retained Earnings	104,443

2.

A company has the following account balances. They are now doing their closing entries. This company uses an income summary account to close the accounts, then income summary gets closed into retained earnings.

During the closing process, what is the total dollar amount transferred from income summary to retained earnings? (you should assume that the balances given are the "normal" balances for the account - as far as whether the amount listed is a debit or credit).

Supplies Expense	4,632
Service Revenue	51,953
Accounts Payable	8,184
Salaries Expense	11,614
Dividends	1,613
Equipment	71,284
Accumulated Depreciation	21,600
Depreciation Expense	4,883
Retained Earnings	105,246

3.

A company has the following account balances. They are now doing their closing entries. This company uses an income summary account to close the accounts, then income summary gets closed into retained earnings.

After the closing process is complete, what is the final balance of the dividends account ? (you should assume that the balances given are the "normal" balances for the account - as far as whether the amount listed is a debit or credit).

Supplies Expense	2,222
Service Revenue	50,861
Accounts Payable	7,224.4
Salaries Expense	10,523
Dividends	1,164
Equipment	70,650
Accumulated Depreciation	21,623
Depreciation Expense	3,630
Retained Earnings	115,554