Question
After the accounts have been adjusted at November 30, the end of the fiscal year, the following balances were taken from the ledger of Diamond
After the accounts have been adjusted at November 30, the end of the fiscal year, the following balances were taken from the ledger of Diamond Landscaping Co.:
| Retained Earnings | $2,550,000 |
| Dividends | 25,000 |
| Fees Earned | 1,150,000 |
| Wages Expense | 613,750 |
| Rent Expense | 120,000 |
| Supplies Expense | 9,150 |
| Miscellaneous Expense | 11,000 |
Journalize the two entries required to close the accounts. If an amount box does not require an entry, leave it blank.
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Electronic Working Papers For Needles Powers Crossons Financial And Managerial Accounting 9th And Crosson Needles Managerial Accounting
Authors: Susan V. Crosson, Belverd E. Needles
9th Edition
0538791918, 978-0538791915
