Answered step by step
Verified Expert Solution
Question
1 Approved Answer
For the separate rows, could you label them Row 1 Row 2 etc., please? Brett Takoe Enterprises had the following accounts and normal balances listed
For the separate rows, could you label them "Row 1" "Row 2" etc., please?
Brett Takoe Enterprises had the following accounts and normal balances listed on its December 31st adjusted trial balance: Service Revenue, $23,300: Salaries Expense, $6,700; Rent Expense, $3,700; Advertising Expense, $3,100; and Dividends, $8,200. Journalize the closing entries for Takoe Enterprises. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing revenues. Date Accounts and Explanation Debit Credit Dec. 31 To close dividends. To close expenses. To close Income Summary To close revenue. Brett Takoe Enterprises had the following accounts and normal balances listed on its December 31st adjusted trial balance: Service Revenue, $23,300; Salarie: Expense, $6,700; Rent Expense, $3,700; Advertising Expense, $3,100; and Dividends, $8,200. Journalize the closing entries for Takoe Enterprises. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing revenues. Date Accounts and Explanation Debit Credit Dec. 31 Advertising Expense Cash Dividends Income Summary Interest expense Rent Expense Retained Earnings Salaries Expense Service Revenue i Data Table Simpson Sign Company Adjusted Trial Balance January 31, 2018 Account Title Cash Office Supplies Prepaid Rent Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Common Stock Dividends Service Revenue Salaries Expense Rent Expense Depreciation Expense-Equipment Supplies Expense Balance Debit Credit 15,700 1,100 1,700 56,000 5,500 3,900 500 3,500 5,500 45,700 1,000 18,100 4,300 1,200 400 300 1,000 Utilities Expense $ 82,700 $ 82,700 Total Print DoneStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started