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The ledger of Rios Company contains the following balances: Retained Earnings $29,000; Dividends $3,000; Service Revenue $48,000; Salaries and Wages Expense $26,500; and Supplies Expense
The ledger of Rios Company contains the following balances: Retained Earnings $29,000; Dividends $3,000; Service Revenue $48,000; Salaries and Wages Expense $26,500; and Supplies Expense $7,500. The closing entries are as follows: (1) Close revenue accounts (2) Close expense accounts. (3) Close net income/(loss). (4) Close dividends
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