Presented below Is Income statement and dividend Information of the Nebraska Corporation for the year ended December 31, 2021$644,000Sales revenueSalaries expenseDividend revenueKiscellaneous expenseCost of goods soldD00Insurance axpanes3,20014,0008,200Depreciation expenseAdministrative expenseRent expense$365,00022.00020,00037,60012,000Loss on sale of investmentsDividends7,000Required:Prepare the necessary closing entries at December 31, 2021. (If no entry Is required for a transaction/event, select "No Journal entryrequired" In the first account field.)View transaction listJournal entry worksheetRecord the entry to close the revenue accounts.Note: Enter debits before credits.CreditDebitGeneral JoumalDateDecember 31, 2021Next >

Presented below Is Income statement and dividend Information of the Nebrasks Corporation for the year ended December 31, 2021 9644,000 Cont of goode aold 1365 000 Sales revenue Salarisa xpanne Dividend revenue Miscollaneous axpenae LOss on sale of investments Dividends 3,200 14,000 8,200 7,000 Depreciation arpense SdeininteNtive axpmon Rent expenne 22.0 20,000 311055 12,000 equlred: repare the necessary closing entries at December 31, 2021. (If no entry Is required for a transaction/event, select "No journal entry quired" In the first account field.) View transaction list Journal entry worksheet 3 antor to close the revenue accounts.

Presented below Is Income statement and dividend Information of the Nebrasks Corporation for the year ended December 31, 2021 9644,000 Cont of goode aold 1365 000 Sales revenue Salarisa xpanne Dividend revenue Miscollaneous axpenae LOss on sale of investments Dividends 3,200 14,000 8,200 7,000 Depreciation arpense SdeininteNtive axpmon Rent expenne 22.0 20,000 311055 12,000 equlred: repare the necessary closing entries at December 31, 2021. (If no entry Is required for a transaction/event, select "No journal entry quired" In the first account field.) View transaction list Journal entry worksheet 3 antor to close the revenue accounts.

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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