Question
The following information is from the Income Statement of Sarasotas Halloween Pop-up Rental Shop for the year ending October 31, 2022: Service Revenue $7,600 Expenses
The following information is from the Income Statement of Sarasotas Halloween Pop-up Rental Shop for the year ending October 31, 2022:
Service Revenue | $7,600 | ||||
---|---|---|---|---|---|
Expenses | |||||
Salaries and Wages expense | $3,840 | ||||
Rent Expense | 1,624 | ||||
Depreciation Expense | 2,352 | ||||
Miscellaneous Expense | 246 | ||||
Total expenses | 8,062 | ||||
Net Income | $-462 |
This is Sarasotas first year in business. Sarasotas distributed dividends of $3,250 during the period. Prepare closing entries at December 31, 2022. (Credit account titles are automatically indented when the 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.)
net loss entry is important for me, can you check pls?
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