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Can somebody please help me out with these problems? Thanks in advance! 2. The following data were taken from the accounting records of Harry Company.
Can somebody please help me out with these problems? Thanks in advance!
2. The following data were taken from the accounting records of Harry Company. Except where indicated, the balances are as of December 31, 2018 before closing entries have been made. Required: Place an X in the line next to the account balance of all the "temporary" accounts that should be closed at the end of 2018. Dividends Service Revenue $39,000 Salaries expense $22,500 Rent expense $ 6,000 Common stock $83,000 12 points each 10 points $ 12,000 Insurance expense $800 Retained Earnings, January 1, 2018 Advertising expense $6,700 Unearned revenue $4,600 Accounts Receivable $9,650 $37,260 - - 3. The following data were taken from the accounting records of Harvey Company, the balances are for the year ended December 31, 2018. Service Revenue $44,500 Advertising expense $6,700 Dividends Unearned revenue $3,600 Retained Earnings $37,260 Salaries expense $12,500 Common stock $43,000 Cash $8,400 Insurance expense $800 Rent expense $6,000 Notes Payable $88,000 Accounts Receivable $12,500 $2,000 Required: Prepare an income statement in proper form for Harvey Company for 2018.120 point Step by Step Solution
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