M4-14 through M4-17 Reporting an Income Statement, Reporting a Statement of Retained Earnings, Reporting a Balance Sheet and Recording Closing Journal Entries [LO 4-4, LO 4-5]

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[The following information applies to the questions displayed below.] The Sky Blue Corporation has the following adjusted trial balance at December 31.

	Debit				Credit
Cash	$	1,400
Accounts Receivable		3,700
Prepaid Insurance		4,000
Notes Receivable (long-term)		4,700
Equipment		20,500
Accumulated Depreciation					$	6,000
Accounts Payable						7,120
Salaries and Wages Payable						1,850
Income Taxes Payable						4,600
Deferred Revenue						940
Common Stock						4,100
Retained Earnings						1,680
Dividends		470
Sales Revenue						57,330
Rent Revenue						470
Salaries and Wages Expense		25,000
Depreciation Expense		3,000
Utilities Expense		5,920
Insurance Expense		3,100
Rent Expense		7,700
Income Tax Expense		4,600
Total	$	84,090			$	84,090

Crocier 4 Homewe Helse & Check my work mode: This shows what is correct or incorrect for the work you have completed to be dons not Indorte completion Ruum 34 Ano OR Required information M14-14 through M4-17 Reporting an income Statement Reporting Statement of Retained Erming Reporting a Balance Shoot and Recording Closing Joumal Entries [LO 4.4, LO 4-51 The woman was om Guestos de coco Tres Blue Corporation has the following det sillance at December 31 Lt Cendet 3 1.400 2. Satu Rachelor- ESPER 4.960 20. Sen Bryable Cate SESSE Stock SEE BE 1.13 . 4.ct 340 12 B BESTE 5. res per Deprese per ELS 411 -1.911 411 29.c . S. 2.100 7.16 4. P.SE - FREE TALE M4-16 1. Pepere a classif balonce sheet December 31 (nums to be deducted should be indicated by a minus sig Answer is complete but not entirely correct. BKY BLUE CORPORATION Sureshet bers1 Ana CLIWA Arbe Fadine 3,700 2,00 Tata Cam 9,00 4 20. LEO 2 . .. U WI WA . Snare da Frat I wants CERT 5 T, 20 1,99 240 at Stecker Cup Toaletas' Euty TcallsH HEGzr CE- 3.750 S 91 920 M4-17 Prepare closing journal entries on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Answer is complete but not entirely correct. No Date Credit 1 Dec 31 Debit 57,330 470 25,000 3,000 General Journal Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense Retained Earnings 5,920 3,100 7,700 4,600 4,910 2 Dec 31 300 Retained Earnings Dividends 300 X