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Yoctoring Balance Sheet Income Statement Debit Credit Debit Credit 16,000 Adjusted Trial Balance Debit Credit 16.000 6,000 6,000 2,000 2,000 19,000 19,000 6,000 6,000 10,000 Acumulated ar Account Payable > Wapes Payable Common Stock 10,000 2,000 2,000 5,000 5,000 5,604 Retired Earnings Dividends Fees Earned 5,604 1,000 1,000 47,035 47,035 19,196 Wages Expense Rent Expense Depreciation Expense 6,995 19,196 6,995 5,448 Totals 5,448 75,639 75,639 31,639 47,035 44,000 28,604 5, Wages Payable Common Stock 47,035 1,000 47,035 19,196 Retained Earnings Dividends Fees Eamed Wages Expense 19,196 6,995 28,604 6,995 5,448 5,448 31,639 44,000 47,035 Rent Expense Depreciation Expense 75,639 15,396 75,639 15,396 Totals 44,000 47,035 44,000 47,035 Net Income (Loss) The Journal entry to close revenues and expenses would involve: Os debe capete accounts and credits to Retained Earnings and Fees Earned Ob de Fees Hamed and credits to the expense accounts and Retained Earnings Och the expense accounts and retained Earnings and a credit to Fees Earned Od de to follared and Retained Earnings and credits to the expense accounts Previous