Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

for the last picture Date Account Titles and Explanation Debit Credit Dec. 31 Service Revenue 202.180 Rent Revenue 6.820 income Summary (To close revenue accounts)

for the last picture
image text in transcribed
image text in transcribed
image text in transcribed
Date Account Titles and Explanation Debit Credit Dec. 31 Service Revenue 202.180 Rent Revenue 6.820 income Summary (To close revenue accounts) Dec. 31 lincome Summary 120,290 Depreciation Exponse satiries mal Wuges Expense Rent finening (To close expense accounts) DeC. 31 Inconesuinmairy 88770 Retaincd Earninges (To close net income to retained earnings) Dec. 31 Retained Earnings Dividends (To close dividends to retained earnings) Determine the post-closing balance in Retained Earnings. (Post entries in the order of journal entries presented in the previous part.) Date Account Titles and Explanation Debit Credit Dec. 31 Service Revenue 202.180 Rent Revenue 6.820 income Summary (To close revenue accounts) Dec. 31 lincome Summary 120,290 Depreciation Exponse satiries mal Wuges Expense Rent finening (To close expense accounts) DeC. 31 Inconesuinmairy 88770 Retaincd Earninges (To close net income to retained earnings) Dec. 31 Retained Earnings Dividends (To close dividends to retained earnings) Determine the post-closing balance in Retained Earnings. (Post entries in the order of journal entries presented in the previous part.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions