Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Cash 16,000 6,000 Accounts Receivable 16,000 6,000 2,000 19,000 Supplies 2,000 19,000 Equipment Accumulated Depr. 6,000 6,000 Accounts Payable 10,000 Wages Payable Common Stock 2,000 5,000 6,801 10,000 2,000 5,000 6,801 1,000 1,000 45,563 45,563 Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Depreciation Expense 20,259 5,671 20,259 5,671 5,434 5,434 75,364 75,364 31,364 45,563 44,000 29,801 Totals 19,000 19,000 6,000 6,000 Equipment Accumulated Depr. Accounts Payable Wages Payable Common Stock 10,000 2,000 5,000 6,801 10,000 2,000 5,000 6,801 Retained Earnings Dividends 1,000 1,000 45,563 45,563 Fees Earned Wages Expense Rent Expense Depreciation Expense Totals 20,259 5,671 5,434 75,364 20,259 5,671 5,434 31,364 75,364 45,563 44,000 29,801 14,199 Net Income (Loss) 14,199 45,563 45,563 44,000 44,000 The entry to close Income Summary would be Odebit Common Stock, $11,801; credit Income Summary, $11,801 Odebit Income Summary, 513,199; Credit Common Stock, $13,199 Odebit Income Summary, $14,199, credit Retained Earnings, $14,199 Odebit Common Stock, $31,364; credit Income Summary, $31,364 Previous