Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

LLUN Question Completion Status: Question 7 Use the following worksheet to answer the following questions 5 points Save Answer Account Title Cash Accounts Receivable Supplies

image text in transcribed
LLUN Question Completion Status: Question 7 Use the following worksheet to answer the following questions 5 points Save Answer Account Title Cash Accounts Receivable Supplies Equipment Accumulated Depr-Equip Accounts Payable Wages Payable C. Finley, Capital C. Finley, Drawing Fees Earned Wages Expense Rent Expense Depreciation Expense Totals Net Income (LOSS) Finley Company Worksheet For the Year Ended December 31, 2010 Adjusted Trial Balance Income Statement Debit Credit Debit Credit 48,000 18,000 6,000 57,000 18,000 30,000 6,000 33,000 3,000 141,000 141,000 63.000 63,000 18,000 18.000 15.000 15,000 228.0001 228.000 96,000 141,000 45.000 141.000 141.000 Balance Sheet Debit Credit 48.000 18000 6,000 57.000 18,000 30.000 6,000 33.000 3,000 132,000 87,000 45.000 132.000 132.000 The journal entry to close the revenue and expense accounts to the capital account is: (5 pts) TT T Arial :3 (12) T.E.E

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

Managerial Accounting An Introduction to Concepts Methods and Uses

Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil

10th Edition

1111822239, 324639767, 9781111822231, 978-0324639766

More Books

Students also viewed these Accounting questions

Question

explain five important changes in the world of work;

Answered: 1 week ago

Question

Define indirect financial compensation (employee benefits).

Answered: 1 week ago