Required information The company's adjusted trial balance includes the following accounts balances: Cash, $15,000; Equipment, $85,000; Accumulated Depreciation, $25,000; Accounts Payable, $10,000; Retained earnings, $59,000; Dividends, $2,000; Fees Revenue, $56,000; Depreciation Expense, $25,000; and Salaries Expense, $23,000. All accounts have normal balances. Prepare the third closing entry by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns. No 1 Date December 31 Income summary Retained earnings Answer is not complete. General Journal ›› Debit Credit 59,000 X

Required information The company's adjusted trial balance includes the following accounts balances: Cash, $15,000; Equipment, $85,000; Accumulated Depreciation, $25,000; Accounts Payable, $10,000; Retained earnings, $59,000; Dividends, $2,000; Fees Revenue, $56,000; Depreciation Expense, $25,000; and Salaries Expense, $23,000. All accounts have normal balances. Prepare the third closing entry by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns. No 1 Date December 31 Income summary Retained earnings Answer is not complete. General Journal ›› Debit Credit 59,000 X

Name: please record closing for this transaction, I do not know why it's wro
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Description: please record closing for this transaction, I do not know why it's wrong Required informationThe company's adjusted trial balance includes the following accounts balances: Cash, $15,000; Equipment, $85,000; AccumulatedDepreciation, $25,000; 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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