Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Debit Credit Debit Credit Balance Sheet Debit Credit Account Title 16,000 Cash 6,000 16,000 6,000 2,000 19,000 Accounts Receivable Supplies Equipment 2,000 19,000 Accumulated Depr. 6,000 6,000 10,000 2,000 10,000 2,000 5,000 5,000 9,661 9,661 1,000 1,000 Accounts Payable Wages Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Depreciation Expense Totals Net Income (Loss) 43,211 43,211 20,685 20,685 6,499 6,499 4,688 4,688 75,872 75,872 43,211 44,000 31,872 11,339 32,661 11,339 43,211 43,211 44,000 44,000 The entry to close expenses would be: Wages Expense Rent Expense Depreciation Expense Income Summary Expenses Income Summary O Wages Expense Rent Expense Debit Credit 20,685 6,499 4,688 31,872 31,872 31,872 20,685 6,499 The entry to close expenses would be: o Debit Credit Wages Expense 20,685 Rent Expense 6,499 Depreciation Expense 4,688 Income Summary 31,872 Expenses 31,872 Income Summary 31,872 Wages Expense 20,685 Rent Expense 6,499 Depreciation Expense 4,688 Dividends 31,872 Income Summary 31,872 Wages Expense 20,685 Rent Expense 6,499 Depreciation Expense 4,688 esc @