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Can you complete the income summary and retained earnings? Please follow the format. Thank you Exercise 4-4 (Part Level Submission) The adjusted trial balance columns
Can you complete the income summary and retained earnings? Please follow the format. Thank you
Exercise 4-4 (Part Level Submission) The adjusted trial balance columns of the worksheet for DeSousa Company are as follows. DESOUSA COMPANY Worksheet (partial) For the Month Ended April 30, 2017 Adjusted Trial Balance Account Titles Dr. Cr. Cash 10,000 Accounts Receivable 7,840 Prepaid Rent 2,280 Equipment 23,050 Accumulated Depreciation-Equip. 4,921 Notes Payable 5,700 Accounts Payable 4,920 Common Stock 20,000 Retained Earnings 7,960 Dividends 3,650 Service Revenue 15,590 Salaries and Wages Expense 10,840 Rent Expense 760 Depreciation Expense Interest Expense 57 Interest Payable 57 Totals 59,148 59,148 671 Journalize the closing entries at April 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit (1) Apr. 30 TService Revenue 15,5901 15,590 T Income Summary (To close revenue account) (2) Apr (2) Apr. 30 Income Summary nary T Salaries and Wages Exp 10,840 T Rent Expense 760 T Depreciation Expense 671 57 T Interest Expense (To close expense accounts) (3) Apr. 30 Income Summary T 3,262 T Retained Earnings (To close net income / (loss)) (4) Apr. 30 TRetained Earnings 3,650 Dividends (To close dividends) (b) Post the closing entries to Income Summary and Retained Earnings. (Post entries in the order of journal entries posted in the previous part of the question.) Income Summary Retained EarningsStep by Step Solution
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