Income Statement Statement of Stockholders Equity General Journal Date Dec 31 Description To close the Revenue account. Balance Sheet Journal Entries Debit Credit tA $ 0 $ 0 0 0 31 0 0 Rent Expense Salaries Expense 0 0 0 0 Supplies Expense 0 0 Insurance Expense 0 0 Depreciation Expense-Equipment 0 0 Interest Expense 0 0 To close the expense accounts. 31 0 0 0 0 To close the dividends account. Income Statement Statement of Stockholders Equity Balance Sheet Journal Entries SHARPE CONSULTING SERVICE Balance Sheet December 31 Assets Liabilities Cash 0 Accounts Receivable 0 Accounts Payable Long Term Notes Payable tA Supplies 0 Total Liabilities 0 0 0 Prepaid Insurance 0 Equipment 0 Stockholders Equity. Less:Accum. Depr. - Equipment(enter as a negative) 0 0 Common Stock 0 Retained Earnings 0 Total Stockholders' Equity 0 Total Assets $ 0 Total Liabilities and Stockholders' Equity $ 0 Income Statement Statement of Stockholders Equity Balance Sheet Journal Entries SHARPE CONSULTING SERVICE Statement of Stockholders' Equity For Year Ended December 31 Common Stock Retained Earnings Total Balance, January 1 $ Add: Net Income 0 $ 0 0 $ 0 0 0 Less: Dividends paid (enter as a negative) Balance, December 31 0 0 0 $ 0 $ 0 $ 0 Income Statement Statement of Stockholders Equity Balance Sheet Journal Entries NOTE: Do not use negative signs with answers, unless otherwise noted (such as dividends, accumulated depreciation). SHARPE CONSULTING SERVICE Income Statement For Year Ended December 31 Revenue Service Fees Earned Expenses Rent Expense 0 Salaries Expense 0 Supplies Expense 0 Insurance Expense 0 Depreciation Expense-Equipment 0 Interest Expense 0 Total Expenses Net Income tA 0 0 $ 0