Balance Sheet Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Debit Credit Debit Credit 16,000 6,000 Account Title Credit Debit 16,000 6,000 2,000 2,000 19,000 19,000 6,000 6,000 Cash Accounts Receivable Supplies Equipment Accumulated Depr. Accounts Payable Wages Payable Common Stock Retained Earnings Dividends 10,000 10,000 2,000 2,000 5,000 5,000 2,976 2,976 1,000 1,000 Fees Earned 50,311 50,311 Wages Expense 20,092 20,092 6,219 6,219 Rent Expense Depreciation Expense 5,976 5,976 Totals 76,287 76,287 32,287 50,311 44,000 25,976 Net Income (Loss) 18,024 18,024 50,311 50,311 44,000 44,000 The entry to close expenses would be: Debit Credit 20,092 6,219 5,976 32,287 32,287 32,287 Wages Expense Rent Expense Depreciation Expense Income Summary O Expenses Income Summary Wages Expense Rent Expense Depreciation Expense Dividends Income Summary Wages Expense Rent Expense Depreciation Expense 20,092 6,219 5,976 32,287 32,287 20,092 6,219 5,976