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Akram Corporation Plas the following on a portion of its adjusted trial balance as of December 31, 2016: Account Debit Credit Ticket revenues $2,120,000 Concession
Akram Corporation Plas the following on a portion of its adjusted trial balance as of December 31, 2016: Account Debit Credit Ticket revenues $2,120,000 Concession $954,000 Cost of goods sold $1,378,000 Salaries expense $318,000 Dividends $212,000 1. Prepare the journal entry to close ticket revenues and concession revenues to income summary (3 points). 2. Prepare the journal entry to close cost of goods sold and salaries expense to income summary (3 points). 3. Prepare the journal entry to close income summary to retained earnings (2 points). 4. Prepare the journal entry to close dividends to retained earnings (2 points)
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