Prepare the necessary closing entries based on the aforementioned information.

Prepare the necessary closing entries based on the aforementioned information

That's all of the information that is given nothing else.

The following accounts relate to ACC 1162 Corporation: Cash $ 50.000 Equipment 75,000 Accumulated Depreciation 10,000 Current Liabilities 8,000 Depreciation Expense 5,000 Owner's Capital 20,000 Owner's Drawings 12,000 Salaries and Wages Expense 34,000 Service Revenue 38,000 The following accounts relate to ACC 1162 Corporation: Cash $ 50,000 Equipment 75,000 Accumulated Depreciation 10,000 Current Liabilities 8,000 Depreciation Expense 5,000 Owner's Capital 20,000 Owner's Drawings 12,000 Salaries and Wages Expense 34,000 Service Revenue 38,000 REQUIRED: Prepare the necessary closing entries based on the aforementioned information. The following accounts relate to ACC 1162 Corporation: Cash $ 50,000 Equipment 75,000 Accumulated Depreciation 10,000 Current Liabilities 8,000 Depreciation Expense 5,000 Owner's Capital 20,000 Owner's Drawings 12,000 Salaries and Wages Expense 34,000 Service Revenue 38,000 REQUIRED: Prepare the necessary closing entries based on the aforementioned information. The following accounts relate to ACC 1162 Corporation: Cash $ 50,000 Equipment 75,000 Accumulated Depreciation 10,000 Current Liabilities 8,000 Depreciation Expense 5,000 Owner's Capital 20,000 Owner's Drawings 12,000 Salaries and Wages Expense 34,000 Service Revenue 38,000 A REQUIRED: Prepare the necessary closing entries based on the aforementioned information