The year-end adjusted trial balance of Aggies Corporation
included the following account balances: Retained Earnings,
$210,000; Service Revenue, $800,000; Salaries Expense, $370,000;
Rent Expense, $130,000; Interest Expense, $65,000; and Dividends,
$40,000. 
Homework Answers
| Closing Entries | |||
| Date | Accounts and Explanations | Debit | Credit |
| Dec-31 | Service revenue | $ 800,000.00 | |
| Retained earnings | $ 800,000.00 | ||
| (Revenue accounts closed) | |||
| Dec-31 | Retained earnings | $ 565,000.00 | |
| Salaries expense | $ 370,000.00 | ||
| Rent expense | $ 130,000.00 | ||
| Interest expense | $ 65,000.00 | ||
| (Expenses Accounts closed) | |||
| Dec-31 | Retained earnings | $ 40,000.00 | |
| Dividends | $ 40,000.00 | ||
| (To close Dividends account) |
Add Answer to:
The year-end adjusted trial balance of Aggies Corporation
included the following account balances: Retained Earnings,
$210,000;...
The year end adjusted trial balance of Aggies Corporation included the following account balances: Retained Earnings....
The year end adjusted trial balance of Aggies Corporation included the following account balances: Retained Earnings. $220,000; Service Revenue, $850,000; Salaries Expense. $380,000; Rent Expense, $140,000: Interest Expense, $75,000; and Dividends. $50,000. Record the necessary closing entries. (If no entry is required for a transaction/event, select "No Journal y Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record the entry to close revenue accounts. Note: Enter debits before credits. General Journal Debit Credit...
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The year-end adjusted trial balance of Aggles Corporation Included the following account balances: Retained Earnings, $222,000; Service Revenue, $860,000; Salarles Expense, $382,000; Rent Expense, $142,000; Interest Expense, $77,000; and Dividends, $52,000. Record the necessary closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field.) View transaction list Journal entry worksheet < 1 2 3 > Record the entry to close revenue accounts. Note: Enter debits before credits. Date December 31...
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The year end adjusted trial balance of Aggies Corporation included the following account balances: Retained Earnings. $220,000; Service Revenue, $850,000; Salaries Expense. $380,000; Rent Expense, $140,000: Interest Expense, $75,000; and Dividends. $50,000. Record the necessary closing entries. (If no entry is required for a transaction/event, select "No Journal y Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record the entry to close revenue accounts. Note: Enter debits before credits. General Journal Debit Credit...
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