Question: Use this end-of-period spreadsheet to answer the question below Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Income Balance Balance Statement



Use this end-of-period spreadsheet to answer the question below Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Income Balance Balance Statement Sheet Account TitleDbi Credit Debit Credit Debit Credit as 48,000 48,000 Accounts Receivable 18,000 18,000 Supplies 6,00 6,0 57,000 57,000 quipment ccumulated 18,000 18,000 epr. Accounts Payable 25,000 25,000 Wages Payable 6,000 6,000 Common Stock 30,000 30,000 Retained Earnings 3,000 3,000 Dividends 3,000 3,000 ees Earned 155,00 155,00 63,000 Wages Expense 63,00 27,000 27,000 ent Expense Depreciation 15,000 15,000 Expense Totals 237,0001 237,0001 105,000| 155,000| 132,00 82,000 Net Income Loss) 50.0001- 50,000 155,000 155.000 132.000 132,000 The entry to close Income Summary would be debit Common Stock, $50,000; credit Income Summary, $50,000 debit Income Summary, $155,000; credit Common Stock, $155,000 debit Income Summary, $50,000: credit Retained Earnings, $50,000 debit Common Stock, $9,000: credit income Summary, $9,000
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