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Finley Company End-of-Period Spreadsheet For the Year Ended December 311 Adjusted Trial Balance: Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit
Finley Company End-of-Period Spreadsheet For the Year Ended December 311 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 80,060 80,060 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 62,000 62,000 Dividends 1,500 1,500 Fees Earned 46,830 46,830 Wages Expense 15,687 15,687 Rent Expense 5,645 5,645 Depreciation Expense 4,938 4,938 Totals 131,830 131,830 26,270 46,830 105,560) 85,000 Retained Earnings 62,000 62,000 Dividends 1,500 1,500 Fees Earned 46,830 46,830 Wages Expense 15,687 15,687 Rent Expense 5,645 5,645 Depreciation Expense 4,938 4,938 Totals 131,830 131,830 26,270 46,830 105,560, 85,000 Net Income (Loss) 20,560 20,560 46,830 46,830 105,5601 105,560 The entry to close Dividends would be Oa. debit Common Stock, $1,500, credit Retained Earnings, $1,500 Ob. debit Retained Earnings, $1,500, credit Dividends, $1.500 Oc debit Dividends. $1,500, credit Retained Earnings, $1.500 Od. debit Retained Earnings, $1,500; credit Common Stock $1,500
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