Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 14, 2024

Infosys had the following account balances at year end Sales 950,000 Salaries. 435,000 Divided revenue 5500 Interest expense 9500 Gaind on sales of equil. 6,000

Infosys had the following account balances at year end

Sales 950,000

Salaries. 435,000

Divided revenue 5500

Interest expense 9500

Gaind on sales of equil. 6,000

Rent ex 115,000

Utilities expense 11,000

Depreciation 26,500

Income tax ex 40,000

Insurance ex 22,000

Prepare the closing entries for infosys at December 31

Step 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

Recommended Textbook for

AS9101D Auditing For Process Performance Combining Conformance And Effectiveness To Meet Customer Satisfaction

Authors: Chad Kymal

1st Edition

0873898079, 978-0873898072

More Books

Students also viewed these Accounting questions

Question

★★★★★

In 2014, Susan (44 years old) is a highly successful architect and is covered by an employee-sponsored plan. Her husband, Dan (47 years old), however, is a Ph.D. student and is unemployed. Compute...

Answered: 1 week ago

Question

★★★★★

=+What key points should be emphasized to ensure the success of culturally competent, strength-based interventions?

Answered: 1 week ago

Question

★★★★★

(Basic Pension Worksheet) The following facts apply to the pension plan of Boudreau Inc. for the year 2010. Using the preceding data, compute pension expense for the year 2010, as part of your...

Answered: 1 week ago

Question

★★★★★

Need help with this The condensed financial statements of Stauttner, Inc appear below: STAUTTNER, INC. Statement of Financial Position December 31 Assets 2020 Cash $62.092 Accounts receivable 57,200...

Answered: 1 week ago

Question

★★★★★

In light of the affordable health care act (aca) and the myriad of citizens using the new health care insurance system, as a health care administrator for a hospital, are responsible for reporting to...

Answered: 1 week ago

Question

★★★★★

In the Basic 4 Block SWOT (Strengths, Weaknesses, Opportunities, and Threats) which of these is considered to be a threat? (A) Company's laboratory is inexperienced in running the Design Verification...

Answered: 1 week ago

Question

★★★★★

All returns and standard deviations are in raw decimal form. Linxiang is a portfolio manager. He currently manages a portfolio that invests in the entire market (portfolio M). He has analysed the...

Answered: 1 week ago

Question

★★★★★

orce This Test can be saved and resumed at any point until time has expired. The timer will continue to run if you leave the test. our answers are saved automatically. Remaining Time: 06 minutes, 50...

Answered: 1 week ago

Question

★★★★★

How does clipping relate to safety in electrical engineering, especially in the context of circuit design?

Answered: 1 week ago

Question

★★★★★

A ball of putty with momentum of 3kgm/s crashes into and sticks to a steal ball at rest. What is the momentum of the steal/putty system? 1.5 kgm/s 0 kgm/s 3 kgm/s 6 kgm/s

Answered: 1 week ago

Question

★★★★★

a lack of management responsibility concerning ecological issues and the utilization of scarce resources.

Answered: 1 week ago

Question

★★★★★

a neglect of quality in relationship to international competitors;

Answered: 1 week ago

Question

★★★★★

full employment policies, and therefore lack of concern with negative appraisal, as salaries varied very little and there was no danger of unemployment;

Answered: 1 week ago

Previous Question Next Question