Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ayayai Company had the following adjusted trial balance. Ayayai Company Adjusted Trial Balance For the Year Ended June 30, 2022 Adjusted Trial Balance Account Titles

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Ayayai Company had the following adjusted trial balance. Ayayai Company Adjusted Trial Balance For the Year Ended June 30, 2022 Adjusted Trial Balance Account Titles Debit Credit Cash $3,500 Accounts Receivable 3,700 Supplies 400 Accounts Payable $1,500 Unearned Service Revenue 100 Common Stock 2,600 Retained Earnings 1,500 Dividends 400 Service Revenue 5,000 Salaries and Wages Expense 1,200 Miscellaneous Expense 200 Supplies Expense 1,700 Salaries and Wages Payable 400 $11,100 $11,100 Prepare closing entries at June 30, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit June 30 (To close revenue account) June 30 (To close expense accounts) June 30 (To close net income / (loss)) June 30 (To close dividends)

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

Step: 3

blur-text-image

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

Payroll Accounting 2022

Authors: Bernard J. Bieg, Judith A. Toland

32nd Edition

0357518756, 9780357518755

More Books

Students also viewed these Accounting questions

Question

c. Acafeteriawhere healthy, nutritionally balanced foods are served

Answered: 1 week ago

Question

c. What steps can you take to help eliminate the stress?

Answered: 1 week ago