Question
below justed thart Debit - Credit Accounts Receivable. $66.790 Dividends 24,200 Depreciation Expense 12.140 Equipment 195,780 Salaries and Wages Expense 83,810 Accounts Payable $48,760
below justed thart Debit - Credit Accounts Receivable. $66.790 Dividends 24,200 Depreciation Expense 12.140 Equipment 195,780 Salaries and Wages Expense 83,810 Accounts Payable $48,760 Accumulated Depreciation-Equipment Unearned Rent Revenue 105,620 21,070 Service Revenue 169.100 Rent Revenue 5,700 Rent Expense 3.310 Retained Earnings 56,860 Supplies Expense 1,290 SUPPORT Your answer is correct. Prepare closing entries (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. De 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 Dec. 31 Service Revenue Rent Revenue Income Summary (To close revenue accounts) Dec 31 Income Summary Depreciation Expense Salaries and Wages Exome Red Expense Supplex (To close expense accounts) Dec. 31 Income Summary Debit 149.100 5,700 100510 74250 Credit 174.800 12.140 10 3310 1290 SUPPORT 10 @ Depreciation Expense Salaries and Wages Expense Rent Expense Supplies Expense (To dose expense accounts) Dec. 31 Income Summary Retained Earnings (To close net income to retained earnings) Dec. 311 Retained Earnings Dividends (To close dividends to retained earnings) eTextbook and Media List of Accounts 74,250 24.200 12140 83810 3.310 1290 74.250 24200 Attempts: unlimited SUPPORT 10+ (b) Determine the post-closing balance in Retained Earnings (Post entries in the order of journal entries presented in the previous part) Retained Earnings eTextbook and Media List of Accounts Save for Later Attempts unlimited Submit Answer
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