Question: View Policies Current Attempt in Progress At March 31, account balances after adjustments for Vizzini Cinema are as follows: Account Balances (After Adjustment) Accounts Cash




View Policies Current Attempt in Progress At March 31, account balances after adjustments for Vizzini Cinema are as follows: Account Balances (After Adjustment) Accounts Cash $11,000 Supplies 4,000 Equipment 50,000 Accumulated Depreciation-Equipment 12,000 Accounts Payable 5,000 Common Stock 6,000 Retained Earnings 14,000 Dividends 12,000 Ticket Revenue 65,000 Service Revenue 53,000 Advertising Expense 18,000 Supplies Expense 19,000 Depreciation Expense 4,000 Rent Expense 28,000 Salaries and Wages Expense 24,000 Utilities Expense 5,000 Prepare the closing journal entries for Vizzini Cinema. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Debit Credit Mar. 31 (To close revenue account.) Mar 31 (To close expense accounts) Mar. 31 (To transfer net income to retained earnings) Mar. 31 (To close dividends to retained earnings)
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