This is a partial adjusted trial balance of Orlando Corporation:ORLANDO CORPORATIONPartial Adjusted Trial BalanceJanuary 31, 2018 Debit CreditSupplies $ 690 Prepaid Insurance 1,560 Salaries Payable $ 1,300Unearned Revenue 740Dividends Declared 1,510 Service Revenue 2,100Supplies Expense 1,010 Insurance Expense 520 Salaries Expense 1,810 Income Tax Expense 340 Prepare the closing entries at January 31, 2018, based on the information in the partial adjusted trial balance. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)DateAccount Titles and ExplanationDebitCreditJan. 31 Jan. 31 Jan. 31 Jan. 31

Closing Entry: Closing entries are passed at the end of accounting period to close the balances of…

Answered: This is a partial adjusted trial…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

This is a partial adjusted trial balance of Orlando Corporation:

ORLANDO CORPORATION Partial Adjusted Trial Balance January 31, 2018
	Debit	Credit
Supplies	$ 690
Prepaid Insurance	1,560
Salaries Payable		$ 1,300
Unearned Revenue		740
Dividends Declared	1,510
Service Revenue		2,100
Supplies Expense	1,010
Insurance Expense	520
Salaries Expense	1,810
Income Tax Expense	340

Prepare the closing entries at January 31, 2018, based on the information in the partial adjusted trial balance. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)