Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Just need some help on this please. Also if you could please do the parts that follow that would help so much! I will rate!

image text in transcribedJust need some help on this please. Also if you could please do the parts that follow that would help so much!

I will rate!

Many thanks and God bless!

% 54-10 (similar to) Question Help Brett Taka Enterprises had the following accounts and normal balances listed on its December 31st adjusted trial balance: Service Revenue, $24,500; Salaries Expense, $7,100; Rent Expense, $3,900; Advertising Expense, $2,100; and Dividends, 59,600. Journalize the closing entries for Taka Enterprises. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing revenues. Date Credit Accounts and Explanation Service Revenue Income Summary Debit 24,500 Dec. 31 24,500 To close revenue Debit Credit Close all the expense accounts for the period. Date Accounts and Explanation Dec. 31 Income Summary Salaries Expense Rent Expense Advertising Expense To close expenses 7,100 3,900 2,100 Choose from any list or enter any number in the input fields and then click Check Answer. ? 2 Pemaining Clear All Final Check

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Accounting Fundamentals For Health Care Management

Authors: Steven A. Finkler, David M. Ward, Thad Calabrese

3rd Edition

1284124932, 9781284124934

More Books

Students also viewed these Accounting questions

Question

Did the researcher do a confirmability audit?

Answered: 1 week ago

Question

What is the purpose of the Occupational Safety and Health Act?

Answered: 1 week ago

Question

Discuss globalization issues for small to medium-sized businesses.

Answered: 1 week ago