uestion 13

1. From the adjusted trial balance for Fabricated Products Company, Inc. given below, prepare the necessary closing entries.

   Fabricated Products Company, Inc. Adjusted Trial Balance December 31
   	Debit	Credit
   Cash	$19,400
   Accounts receivable	25,000
   Merchandise inventory	26,000
   Office supplies	1,900
   Store equipment	84,000
   Accumulated depreciationstore equipment		$22,000
   Office equipment	40,000
   Accumulated depreciationoffice equipment		15,000
   Accounts payable		12,000
   Notes payable		40,000
   Common stock		1,000
   Retained earnings		109,700
   Dividends	28,000
   Sales		245,000
   Sales discounts	6,000
   Sales returns and allowances	16,500
   Cost of goods sold	145,000
   Sales salaries expense	32,500
   Depreciation expensestore equipment	11,000
   Depreciation expenseoffice equipment	7,500
   Office supplies expense	1,300
   Interest expense	600
   Totals	$444,700	$444,700