Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

accounting question On the basis of the following data taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet for the year ended March

accounting question

image text in transcribedimage text in transcribed
On the basis of the following data taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet for the year ended March 31 for Banes Domino's Corporation, journalize the two closing entries. Banes Domino's Corporation Adjusted Trial Balance March 31 Debit Credit Cash 30,000 Accounts Receivable 45,200 Supplies 5,000 Equipment 169,900 Accumulated Depreciation 32,000 Accounts Payable 12,500 Common Stock 51,600 Retained Earnings 20,000 Dividends 47,000 Fees Earned 510,000 Salary Expense 244,500 Rent Expense 48,000 Depreciation E 25,000 Supplies Expense 9,500 Miscellaneous Expense 2,000 626,100 626,100Retained Earnings 20,000 Dividends 47,000 Fees Earned 510,000 Salary Expense 244,500 Rent Expense 48,000 Depreciation Expense 25,000 Supplies Expense 9,500 Miscellaneous Expense 2,000 626,100 626,100 If an amount box does not require an entry, leave it blank. Mar. 31 Mar. 31

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Human Resource Management

Authors: Raymond Noe

5th Edition

0471737933, 9780471737933

More Books

Students also viewed these Accounting questions

Question

1. To gain knowledge about the way information is stored in memory.

Answered: 1 week ago