Answered step by step
Verified Expert Solution
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!
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!
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 CheckStep 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