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TRIAL BALANCE BEFORE AND AFTER CLOSING ENTRY 279,736.49 (0.00) 0.00 5,704.00 48,000.00 (6,400.00) 600,000.00 (15,000.00) 19,200.00 (4,800.00) (546,509.06) 0.00 279,736.49 (0.00) 0.00 5,704.00 48,000.00 (6,400.00)
TRIAL BALANCE BEFORE AND AFTER CLOSING ENTRY 279,736.49 (0.00) 0.00 5,704.00 48,000.00 (6,400.00) 600,000.00 (15,000.00) 19,200.00 (4,800.00) (546,509.06) 0.00 279,736.49 (0.00) 0.00 5,704.00 48,000.00 (6,400.00) 600,000.00 (15,000.00) 19,200.00 (4,800.00) (546,509.06) 0.00 (259,931.43) (120,000.00) 0.00 0.00 0.00 0.00 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Equipment Accum Deprn Eqmt Building Accum Deprn Bldg Prepaid Expense Accounts Payable Business Loan Unearned Revenue Retained Earnings Owner's Equity Service Revenue Sales Revenue Sales Returns Cost of Goods Sold Salaries Expense Rent Expense Bad Debt Expense Depreciation Expense Insurance Expense Interest Expense 0.00 (120,000.00) (384,000.00) (342,240.00) 6,844.80 239,896.00 105,600.00 10,000.00 34,522.27 21,400.00 9,600.00 14,445.50 0.00 0.00 0.00 0.00 0.00 0.00 Questions. Why do Revenue and Expense become zero after closing the Entry ? What is the difference between these tuo columns Thank you
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