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I need this problem solved within the next 15 minutes. Thank You Plevin Company ended its fiscal year on July 31, 2017. The company's adjusted
I need this problem solved within the next 15 minutes. Thank You
Plevin Company ended its fiscal year on July 31, 2017. The company's adjusted trial balance as of the end of its fiscal year is shown below. No. 101 PLEVIN COMPANY Adjusted Trial Balance 31-Jul-17 Accoun Debit t Titles Cash $10,000 Credit 112 Accounts Receivabl e 9,000 157 Equipmen t 16,500 158 Accumula ted Depreciat on Equip. 201 Accounts Payable 4,350 208 Unearned Rent Revenue 1,700 311 Common Stock 19,850 320 Retained Earnings 25,000 332 Dividends 400 Service Revenue 64,500 429 Rent Revenue 7,000 711 Depreciat on Expense 726 Salaries and Wages Expense 56,200 732 Utlites Expense 15,500 $7,800 15,500 7,500 ### (a) Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Accoun t Titles Date and Debit Explan ation 31-Jul (To close revenue account s) 31-Jul (To close expense account s) 31-Jul (To close net income / (loss)) 31-Jul Credit ### (To close dividen ds)Step by Step Solution
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