On the basis of the following data taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet for the year ended March 31 for Banes Domino's Corporation, journalize the two closing entriesBanes Domino's CorporationAdjusted Trial BalanceMarch 31DebitCreditCash30,000Accounts Receivable45,200Supplies5,000Equipment169,900Accumulated Depreciation32,000Accounts Payable12,500Common Stock51,600Retained Earnings20,000Dividends47,000Fees Earned510,000Salary Expense244,500Rent Expense48,000Depreciation Expense25,000Supplies Expense9,500Miscellaneous Expense2,000626,100626,100If an amount box does not require an entry, leave it blank. If an amount box does not require an entry, leave it blank.Mar. 31Mar. 31

Journal entries refers to those entries which are passed by the companies at the end of the period…

On the basis of the following data taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet for the year ended March 31 for Banes Domino's Corporation, journalize the two closing entries. Cash Banes Domino's Corporation Adjusted Trial Balance March 31 Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Dividends Fees Earned Salary Expense Rent Expense Depreciation Expense Supplies Expense Debit 30,000 45,200 5,000 169,900 A 47,000 244,500 48,000 25,000 9,500 Credit 32,000 12,500 51,600 20,000 510,000

On the basis of the following data taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet for the year ended March 31 for Banes Domino's Corporation, journalize the two closing entries. Cash Banes Domino's Corporation Adjusted Trial Balance March 31 Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Dividends Fees Earned Salary Expense Rent Expense Depreciation Expense Supplies Expense Debit 30,000 45,200 5,000 169,900 A 47,000 244,500 48,000 25,000 9,500 Credit 32,000 12,500 51,600 20,000 510,000

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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