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 16,000

Accounts Receivable 6,000 6,000

Supplies 2,000 2,000

Equipment 19,000 19,000

Accumulated Depr. 6,000 6,000 Accounts Payable 10,000 10,000 Wages Payable 2,000 2,000 Common Stock 5,000 5,000 Retained Earnings 10,514 10,514 Dividends 1,000 1,000

Fees Earned 41,248 41,248

Wages Expense 19,193 19,193

Rent Expense 6,890 6,890

Depreciation Expense 4,679 4,679

Totals 74,762 74,762 30,762 41,248 44,000 33,514

Net Income (Loss) 10,486 10,486 41,248 41,248 44,000 44,000 The entry to close expenses would be:

Debit Credit

Wages Expense 19,193

Rent Expense 6,890

Depreciation Expense 4,679

Income Summary 30,762

Expenses 30,762

Income Summary 30,762

Wages Expense 19,193

Rent Expense 6,890

Depreciation Expense 4,679

Dividends 30,762

Income Summary 30,762

Wages Expense 19,193

Rent Expense 6,890

Depreciation Expense 4,679