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LYM, Inc. has the following adjusted trial balance as of December 31, 2022, the company's year-end: (Click the icon to view the adjusted trial
LYM, Inc. has the following adjusted trial balance as of December 31, 2022, the company's year-end: (Click the icon to view the adjusted trial balance.) Requirements a. Prepare the necessary closing entries for LYM, Inc. at December 31, 2022. Omit explanations. b. Prepare the post-closing trial balance for LYM, Inc. at December 31, 2022. Requirement a. Prepare the necessary closing entries for LYM, Inc. at December 31, 2022. Omit explanations. (Record debits fir from any journal entries.) (1) Start by closing revenues. Account Sales Revenue Income Summary December 31 891,200 891,200 (2) Close expenses for the period. Account Income Summary Rent Expense December 31 349800 22800
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