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Please help with the closing entries Rent Revenue Utilities Expenses Salaries and Wages Expense Maintenance and Repairs Expense 18,700 57,920 83,660 $893,58025,420 $893,580 Presented below
Please help with the closing entries
Rent Revenue Utilities Expenses Salaries and Wages Expense Maintenance and Repairs Expense 18,700 57,920 83,660 $893,58025,420 $893,580 Presented below is the trial balance of the Waterway Golf Club, Inc. as of December 31. The books are closed annually on December 31. (1) The buildings have an estimated life of 30 years with no salvage value (straight-line method). (2) The equipment is depreciated at 10% per year. (3) Insurance expired during the year $3720. (4) The rent revenue represents the amount received for 11 months for dining facilities. The December rent has not yet been received. (5) It is estimated that 12% of the accounts receivable will be uncollectible. (6) Salaries and wages earned but not paid by December 31,$3,643. (7) Dues received in advance from members $9,269 were recorded as Dues Revenue. Prepare closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) 2. Depreciation Expense Accumulated Depreciation-Equipment 3. Insurance Expense Prepaid Insurance 4. Rent Receivable 1700 Rent Revenue 5. Bad Debt Expense 864 Allowance for Doubtiul Accounts 6. Salaries and Wages Expense 3643 Salaries and Wages Payable 7. Dues Revenue 9269 Unearned Dijes Revenue Step by Step Solution
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