Question: looking for the general journal entry needed to close Net Income or Net Loss for the year end. Just looking for the amount to debit

looking for the general journal entry needed to close Net Income or Net Loss for the year end.

Just looking for the amount to debit or credit and the names of the account.

looking for the general journal entry needed tolooking for the general journal entry needed tolooking for the general journal entry needed to
The following is the Bravo Unlimited adjusted Trial Balance. Bravo Unlimited Adjusted Trial Balance December 31, 2016 Account Title Debit Credit Cash $88,450 Accounts Receivable 330,000 Supplies 9,255 Prepaid Rent 12,000 Equipment 295,285 Accumulated Depreciation $238,760Accounts Payable 78,555 Wages Payable 15,000 Capital Stock 220,000 Retained Earnings 111,145 Service Revenue 895,105 Interest Income 1,500 Rent Expense Wages Expense Supplies Expense Depreciation Expense 167,095 Dividends ,700 \f

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!