Question: I really need help posting these closing entries, thank you!!! Bridgeport Company Worksheet (Partial) For the Month Ended April 30, 2022 Adjusted Trial Balance Account

I really need help posting these closing entries, thank you!!!

I really need help posting these closing entries, thank you!!! Bridgeport CompanyWorksheet (Partial) For the Month Ended April 30, 2022 Adjusted Trial BalanceAccount Titles Dr. Cr. Cash 10,000 8,080 2,500 22,700 Accounts Receivable Prepaid

Bridgeport Company Worksheet (Partial) For the Month Ended April 30, 2022 Adjusted Trial Balance Account Titles Dr. Cr. Cash 10,000 8,080 2,500 22,700 Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation-Equip. Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Rent Expense Depreciation Expense Interest Expense Interest Payable 5,500 5,700 5,500 19,460 8,100 3,400 15,000 10,980 900 700 60 60 Totals 59,320 59,320 Debit Credit No. Date Account Titles and Explanation Apr. (1) Service Revenue 30 15000 Income Summary 15000 (To close revenue account) (2) Apr. 30 Income Summary 12640 Salaries and Wages Expense 10980 Rent Expense 900 Depreciation Expense 700 Interest Expense 60 (To close expense accounts) (3) Apr. 30 Income Summary 2360 Retained Earnings 2360 (To close net income / (loss)) (4) Apr. 30 Retained Earnings 3400 Dividends 3400 (To close dividends) Post the closing entries to Income Summary and Retained Earnings. (Post entries in the order of journal entries were recorded in the previous part of the question.) Income Summary Retained Earnings

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!