Question: ENTER 4 CLOSING ENTRIES USING JOURNAL ENTRY FORMAT. ACCOUNT DEBIT CREDIT Assets 12,000 Liabilities 3,000 Common Stock 1,000 Retained Earnings 6,500 Dividends 1,500 Revenue 19,500

ENTER 4 CLOSING ENTRIES USING JOURNAL ENTRY FORMAT.

ACCOUNT DEBIT CREDIT
Assets 12,000
Liabilities 3,000
Common Stock 1,000
Retained Earnings 6,500
Dividends 1,500
Revenue 19,500
Salaries Expense 11,250
Operating Expense 5,250
TOTALS 30,000 30,000

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!

Q:

Please help! i have provided a template, check figs, instructions and what i have completed so far. Please double check mysheet to see if there's anything i'm missing from the entries i have...

Q:

How do you prepare the following journal entries needed after the beginning balance? Global Bike, Inc. 1a (Excel) 2015 WINT ACCY 310 - Accounting Systems Due, Monday, Jan 12, 8am Estimated time to...

Q:

Sassafras Sis, Inc Chart of Accounts Balance Sheet Accounts Income Statement Accounts 1 Assets 4 Revenue 11 Cash Debit 41 Revenues Credit 12 Accounts Receivable Debit 13 Supplies Debit 5 Expenses 14...

Q:

Could you provide me with the necessary journal entries for each event from pages 9,10,11,12, and 13. while using the accounts listed on page 8. (Some events may not need journal entries) (Some...

Q:

Could you provide me with the necessary journal entries for each event from pages 9,10,11,12, and 13. while using the accounts listed on page 8. (Some events may not need journal entries) (Some...

Q:

Beacons Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Beacons Company prepared the following end-of-period spreadsheet at December 31, 2015, the...

Q:

Instructions Lamp Light Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Lamp Light Company prepared the following end-of-period spreadsheet at...

Q:

Beacons Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Beacons Company prepared the following end-of-period spreadsheet at December 31, 20Y5, the...

Q:

Please complete this assignment into the excel template that attach with Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. During July, the company completed the following...

Q:

Hello, you helped me on pat of this paper back in April which was the financial statements part of it. I need some adjustments make to the attached papers. Thanks In regards to the financial...

Q:

The following information is available from Gum Ltd's statement of financial position as at 30 June 2022: Cash Bank Bills Accounts Receivable Allowance for doubtful debts Inventory Prepayments...

Q:

Consider the following simultaneous equation model: YB10 + B12Y21+X + U Y21 = B20 + B21 Y1 +022X21 + U21 (a) Obtain the reduced-form equations for this model. (b) What is the relationship between the...

Q:

Use the distributive property to remove the parentheses. ( 4 b ^ ( 3 ) - 3 b ^ ( 5 ) + 4 ) 6 b ^ ( 4 ) Simplify your answer as much as possible.

Q:

The first scenario will be a Verbal Judo scenario in which your scenario follows the standard Verbal Judo interaction: You need to ask somebody to modify their behavior either to do something or to...

Q:

a. When did your ancestors come to the United States?

Q:

d. What language(s) did they speak?

Q:

e. What difficulties did they encounter?