Record end of year Catena's Marketing Company has the following adjusted trial balance at the end of the current year Cash dividends of $675 weredeclared at the end of the year, and 500 additional shares of common stock (5010 per value per share) were issued at the end of theyear for $3,300 in cash (for a total at the end of the year of 950 shares). These effects are included belowCatena's Marketing CompanyAdjusted Trial BalanceEnd of the Current YearCashAccounts receivableInterest receivablePrepaid insuranceLong-ters notes receivableEquipmentAccumulated depreciationAccounts payableDividends payableAccrued expenses payableIncome taxes payableUnearned rent revenueCommon Stock (950 shares)Additional paid-in capitalRetained earningsSales revenueRent revenueInterest revenueWages expenseDepreciation expenseUtilities expenseInsurance expenseRent expenseIncome tax expenseTotalView transaction listDebit$1,5752,350130Note: Enter debits before credits1,7503,55016,790Transaction121,0002,100Cash440885Journal entry worksheet<CreditPrepare the closing entry at the end of the current year.Note: If no entry is required for a transaction/event, select "No journal entry requ$3,3002,7006754,0701,860953,7701,70041,9508751309,3001,830561,700 $61,700Record the closing entry at the end of the current year.General JournalDebitCreditaccount field.

Closing entries are the type of accounting entries that are made at the end of the accounting period…

Catena's Marketing Company has the following adjusted trial balance at the end of the current year Cash dividends of $675 were declared at the end of the year, and 500 additional shares of common stock (5010 per value per share) were issued at the end of the year for $3,300 in cash (for a total at the end of the year of 950 shares). These effects are included below Adjusted Trial Balance End of the Current Year Cash Accounts receivable Interest receivable Prepaid insurance Long-ters notes receivable Equipment Accumulated depreciation Accounts payable Dividends payable $1,575 2,350 130 1,750 3,550 16,790 2,700 675

Catena's Marketing Company has the following adjusted trial balance at the end of the current year Cash dividends of $675 were declared at the end of the year, and 500 additional shares of common stock (5010 per value per share) were issued at the end of the year for $3,300 in cash (for a total at the end of the year of 950 shares). These effects are included below Adjusted Trial Balance End of the Current Year Cash Accounts receivable Interest receivable Prepaid insurance Long-ters notes receivable Equipment Accumulated depreciation Accounts payable Dividends payable $1,575 2,350 130 1,750 3,550 16,790 2,700 675

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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