Question: please answer! will leave a review and thumbs up Calculator Robert Evans owns a business, Beachside Realty, that rents condominiums and furnishings. Below is the

Calculator Robert Evans owns a business, Beachside Realty, that rents condominiums and furnishings. Below is the adjusted trial balance at December 31. Account No. Debit Balances Credit Balances 11 1,500 Cash 12 Accounts Receivable 2,000 100 13 Interest Receivable 14 1,600 16 2,800 18 15,000 3,000 19 21 2,400 22 23 3,920 2,700 500 24 Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Accrued Expenses Payable Income Taxes Payable Unearned Rent Fees Robert Evans, Capital Robert Evans, Drawing Rent Fees Earned Furniture Rental Revenue Interest Revenue Wages Expense Depreciation Expense Utilities Expense Insurance Expense 31 7,700 32 2,000 41 37,000 1,200 100 42 43 19,000 51 52 1,800 320 53 54 700 32 2,00 Robert Evans, Drawing 37,000 41 Rent Fees Earned 42 1,200 Furniture Rental Revenue 100 43 Interest Revenue 51 19,000 52 1,800 53 320 Wages Expense Depreciation Expense Utilities Expense Insurance Expense Maintenance Expense Income Tax Expense 54 700 55 9,000 56 2,700 58,520 58,520 Prepare the entry required to close the revenue and expense accounts at the end of the period. If an amount box does not require an entry, leave it blank. Dec. 31 Rent Fees Earned 37.000 Furniture Rental Revenue 1.200 Interest Revenue 100 Wages Expense 19,000 Depreciation Expense 1,800 Utilities Expense 320 Insurance Expense 700 Maintenance Expense 9,000 Income Tax Expense 2,700 Robert Evans, Capital
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
