Question

Panon ACT - Corporations - Google Chrome act personcmg.com/activity/9/3/2 Activity 3.b - More Practice Journalizing Closing Entries Using the information from the Adjusted Trial Balance, journalize the closing entries f Date Accounts and explanation Debit Crede SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 Service Revenue Balance Debit Credit Account Title To dose Round Cash 16,600 Accounts Receivable 9,100 Accounts and Explanation Office Supplies 200 income summary Prepaid Rent 11,000 Accumulated Depreciation Furniture 19,300 Accumulated Depreciation Furniture 6.600 Accounts Payable 2,200 Salaries Payable Interest Payable Unearned Revenue Notes Payable 7,700 Accounts and Explanation Common Stock 10,800 Retained Earnings 11,000 Retained Earnings Dividends 21,200 Service Revenue 50,200 Accounts and Explanation Credit Depreciation Expo Furniture 2,200 Retained Earnings Interest Expense Dheidende Rent Expense Salaries Expense Supplies Expense Total Type here to search o twix e e Assignments Goo

Answer 1

Credit Date Dec. 31 Debit 50,200 50,200 Dec. 31 10,400 Accounts and Explanation Service Revenue Income Summary (To close revenue) Income Summary Depreciation Expense-Furniture Interest Expense Rent Expense Salaries Expense Supplies Expense (To close expenses) Income Summary Retained Earnings (To close income summary) Retained Earning Dividends (To close dividends) 2,200 300 3,300 3,800 800 Dec. 31 39,800 39,800 Dec. 31 28,200 28,200