Brief Exercise 4-14 The income statement for Regina Cleaning Services Ltd. for the year ended November 30 shows Service Revenue $110,600; Salaries Expense $66,000; Repairs and Maintenance Expense $15,000; Supplies Expense $6,300; Utilities Expense $2,600; and Income Tax Expense $6,100. The statement of changes in equity shows an opening balance for Retained Earnings of $51,000 and Dividends Declared $10,400. Calculate the net income or loss for the year. Net Income / loss LINK TO TEXT Prepare the closing journal entries. (Credit account titles are automatically indented when the 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 Explanatie Cu (To close revenue count) (To close expense accounts.) (To close net income.) (To close dividends.) LINK TO TEXT Using T accounts, post the closing entries, and determine the ending balances. (CE means closing entry.) (Post entries in the order of journal entries presented in the previous question.) Service Revenue Using T accounts, post the closing entries, and determine the ending balances. (CE means closing entry.) (Post entries in the order of journal entries presented in the previous question.) Service Revenue Nov 30 Bal. 110,600 Salaries Expense 66,000 Nov 30 Bal. Supplies Expense Nov 30 Bal. 6,300 Utilities Expense 2,500 Nov 30 Bal Repairs and Maintenance Expense Nov 30 Bal. 15,000 Income Tax Expense Nov 30 Bal 6.100 Dividends Declared 10.400 Nov 30 Bal. Income Summary Retained Earnings 51,000 LINK TO TEXT Brief Exercise 4-8 On July 1, 2018, Nakhooda Limited received an 18-month loan for $40,000 from a bank at 6% and with these funds and another $10,100 cash, purchased a vehicle for $50,100. Prepare the journal entries to record each of the following on Nakhooda's books: The purchase of the vehicle on July 1, 2018. (Credit account titles are automatically indented when the 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.) Dule Account Titles and Explanation Cred LINK TO TEXT The accrual of interest at Nakhooda's year end, December 31, 2018 and 2019, assuming adjusting entries are recorded annually and interest is due at maturity. (Credit account titles are automatically indented when the 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.) Accules und Explanation Credo Dale Dec 31, 2018 Dec 31, 2019 LINK TO TEXT Repayment of the interest and the loan on January 1, 2020. (Credit account titles are automatically indented when the 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 Acesses and Expert Credi Brief Exercise 4-7 Zieborg Maintenance Corp. has a $540 monthly contract with Crispy Treat Inc. for general maintenance services. Zieborg invoices Crispy on the first of the month for services that it performed in the previous month. Crispy must then pay for these services by the 10th of the following month. Zieborg has a November 30 year end and prepares adjusting entries monthly Prepare Zieborg's adjusting entry on November 30. (Credit account titles are automatically intended when the 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.) Credit Date Account Tides and Explanation Novo LINK TO TEXT Given your entry above, record journal entry required on December 1 when it invoices Crispy for services performed in November. (Credit account titles are automatically intended when the 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 Explanatic Credit Dec. 1 LINK TO TEXT Zieborg receives $540 from Crispy on January 10 for services performed in November. Prepare Zieborg's journal entry. (Credit account titles are automatically intended when the 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 Credit Jan. 10 Brief Exercise 4-6 The total weekly payroll for Classic Auto Repairs Ltd. is $15,000 ($3,000 per day). The payroll is paid every Saturday for employee salaries earned during the same five-day workweek (Monday through Friday, inclusive). Salaries were last paid on Saturday, October 27. This year the company's year end, October 31, falls on a Wednesday. Salaries will be paid next on Saturday, November 3. Prepare the journal entry for payment of the salaries on October 27. (Credit account titles are automatically intended when the 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 D Cred Oct. 27 LINK TO TEXT Prepare the journal entry for the adjustment to accrue salaries at October 31. (Credit account titles are automatically intended when the 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.) De Credit Date Account Tales and Explanation Oct. 31 LINK TO TEXT Prepare the journal entry for payment of the salaries on November 3. (Credit account titles are automatically intended when the 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.) Debit Credit Date Account Titles and Explanation Nov. 3