Question: D Question 32 What does Closing Entry #2 (close expenses) include, based on the trial balance below for the year ending December 31, 2018?

D Question 32 What does Closing Entry #2 (close expenses) include, based

D Question 32 What does Closing Entry #2 (close expenses) include, based on the trial balance below for the year ending December 31, 2018? Cash Accounts Receivable Trucks Account Accumulated Depreciation Accounts Payable Wages Payable K. Wilson, Capital K Wilson, Withdrawals Trucking Fees Earned Wages Expense Depreciation Expense Other Expenses Debit to Income Summary of $130,000 O Debit to Wages Expeme of $61,000 Debit to Income Summary of $104,500 O None of the other answers are correct Debit $ 96,000 17,500 172,000 Credit 3 pts $ 36,000 65.000 4,000 175,000 20,000 130,000 61.000 23,500 20,000 Next.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!