Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

random onder Sales revenue Sataries expense Dividend revenue 5620,000 90.000 3,000 Miscellaneous expense 325.000 12.000 Cost of woods Depreciation expert Accumulated Depreciation Equipment 400 8,000

image text in transcribed
random onder Sales revenue Sataries expense Dividend revenue 5620,000 90.000 3,000 Miscellaneous expense 325.000 12.000 Cost of woods Depreciation expert Accumulated Depreciation Equipment 400 8,000 Rent expense 45.000 Loss on sale of Investments Cash Accounts Receivable Prepaid Insurance Equipment Sales Discount 12,400 2.700 300 25,000 45.000 Uneared Revenue Salaries Payable Notes Payable Common Stock Retained Earnings 2.500 1500 10,000 25.000 1000 Required: Prepare the necessary closing entries at December 31, 2021. Show your closing entries separately, Edit View Ynsert Format Tools Table 2pt Paragraph 2

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

Payroll Accounting 2021

Authors: Bernard J. Bieg, Judith A. Toland

31st Edition

0357358287, 9780357358283

More Books

Students also viewed these Accounting questions

Question

What is the purpose of procedural law?

Answered: 1 week ago

Question

Explain the steps involved in training programmes.

Answered: 1 week ago

Question

What are the need and importance of training ?

Answered: 1 week ago