The year-end financial statements of Viper Tax Services are provided below. VIPER TAX SERVICES Income Statement...

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The year-end financial statements of Viper Tax Services are provided below. VIPER TAX SERVICES Income Statement Service revenue Expenses: Salaries Utilities. Insurance Supplies Net income Beginning balance, January 1 Issue stock Net income Dividends Ending balance, December 31 Assets Cash Accounts receivable Land Total assets $ 45,000 7,200 4,800 1,600 VIPER TAX SERVICES Statement of Stockholders' Equity $ 3,700 6,200 100,000 $ 109,900 $ 72,500 58,600 $ 13,900 Total Common Retained Stockholders Stock Earnings $ 23,500 $ 50,000 20,000 $70,000 VIPER TAX SERVICES Balance Sheet Liabilities Accounts payable 13,900 (5,000) $32,400 $ 102,400 Equity Stockholders' Equity 73,500 20,000 13,900 (5,000) Common stock Retained earnings Total liabilities and equities $ 70,000 32,400 $ 7,500 102,400 $ 109,900 Required: 1. Record year-end closing entries. 2. Prepare a post-closing trial balance. (Hint. The balance of Retained Earnings will be the amount shown in the balance sheet.) Complete this question by entering your answers in the tabs below. Required 11 Required 2 Record year-end closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the entry to close the revenue accounts. 2 3 Note: Enter debits before credits. Date December 31 Record entry General Journal Clear entry Debit Credit View general journal Required 1 Required 2 Record year-end closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 Record the entry to close the expense accounts. Note: Enter debits before credits.. Dato December 31 Record entry General Journal Clear entry Debit Credit View general journal Required 1 Required 2 Record year-end closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 2 Record the entry to close the dividends account. 3 Note: Enter debits before credits. Date December 31 Record entry General Journal Clear entry Debit Credit View general journal neviv your onu civalny nica. 2. Prepare a post-closing trial balance. (Hint. The balance of Retained Earnings will be the amount shown in the balance sheet.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a post-closing trial balance. (Hint: The balance of Retained Earnings will be the amount shown in the balance sheet.) VIPER TAX SERVICES Post-Closing Trial Balance Debit Totals Accounts $ 0 $ Credit 0 < Required 1 Required a The year-end financial statements of Viper Tax Services are provided below. VIPER TAX SERVICES Income Statement Service revenue Expenses: Salaries Utilities. Insurance Supplies Net income Beginning balance, January 1 Issue stock Net income Dividends Ending balance, December 31 Assets Cash Accounts receivable Land Total assets $ 45,000 7,200 4,800 1,600 VIPER TAX SERVICES Statement of Stockholders' Equity $ 3,700 6,200 100,000 $ 109,900 $ 72,500 58,600 $ 13,900 Total Common Retained Stockholders Stock Earnings $ 23,500 $ 50,000 20,000 $70,000 VIPER TAX SERVICES Balance Sheet Liabilities Accounts payable 13,900 (5,000) $32,400 $ 102,400 Equity Stockholders' Equity 73,500 20,000 13,900 (5,000) Common stock Retained earnings Total liabilities and equities $ 70,000 32,400 $ 7,500 102,400 $ 109,900 Required: 1. Record year-end closing entries. 2. Prepare a post-closing trial balance. (Hint. The balance of Retained Earnings will be the amount shown in the balance sheet.) Complete this question by entering your answers in the tabs below. Required 11 Required 2 Record year-end closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the entry to close the revenue accounts. 2 3 Note: Enter debits before credits. Date December 31 Record entry General Journal Clear entry Debit Credit View general journal Required 1 Required 2 Record year-end closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 Record the entry to close the expense accounts. Note: Enter debits before credits.. Dato December 31 Record entry General Journal Clear entry Debit Credit View general journal Required 1 Required 2 Record year-end closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 2 Record the entry to close the dividends account. 3 Note: Enter debits before credits. Date December 31 Record entry General Journal Clear entry Debit Credit View general journal neviv your onu civalny nica. 2. Prepare a post-closing trial balance. (Hint. The balance of Retained Earnings will be the amount shown in the balance sheet.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a post-closing trial balance. (Hint: The balance of Retained Earnings will be the amount shown in the balance sheet.) VIPER TAX SERVICES Post-Closing Trial Balance Debit Totals Accounts $ 0 $ Credit 0 < Required 1 Required a

Answer rating: 100% (QA)

Detailed Explanation Answer 1 To solve the question 1 from the given information which is to record yearend closing entries for Viper Tax Services you ... View the full answer