Use the following end-of-period spreadsheet below to answer the question that follow.Finley CompanyEnd-of-Period SpreadsheetFor the Year Ended December 31Adjusted Trial BalanceIncome StatementBalance SheetAccount TitleDr.Cr.Dr.Cr.Dr.Cr.Cash16,00016,000Accounts Receivable6,0006,000Supplies2,0002,000Equipment19,00019,000Accumulated Depreciation6,0006,000Accounts Payable10,00010,000Wages Payable2,0002,000C. Finley, Capital9,3919,391C. Finley, Drawing1,0001,000Fees Earned46,79946,799Wages Expense20,21120,211Rent Expense5,0035,003Depreciation Expense4,9764,97674,19074,19030,19046,799 44,000 27,391 Supplies2,0002,000Equipment19,00019,000Accumulated Depreciation6,0006,000Accounts Payable10,00010,000Wages Payable2,0002,000C. Finley, Capital9,3919,391C. Finley, Drawing1,0001,000Fees Earned46,79946,799Wages Expense20,21120,211Rent Expense5,0035,003Depreciation Expense4,9764,97674,19074,19030,19046,799 44,000 27,39116,60916,609Net Income46,79946,799 44,000 44,000The expenses would be closed byOa. crediting Expenses for S20,211Ob. debiting Wages Expense for $20,211, Rent Expense for 55.003, and Depreciation Expense for $4.976c. crediting Wages Expense for 520,211, Rent Expense for S5.003, and Depreciation Expense for S4.976Ud. debiting Expenses for $30,190

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Description: Use the following end-of-period spreadsheet below to answer the question that follow.Finley CompanyEnd-of-Period SpreadsheetFor the Year Ended December 31Adjusted Trial BalanceIncome StatementBalance SheetAccount TitleDr.Cr.Dr.Cr.Dr.Cr.Cash16,00016,

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Accounting

Use the following end-of-period spreadsheet below to answer the question that follow. Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 16,000 16,000 Accounts Receivable 6,000 6,000 Supplies 2,000 2,000 Equipment 19,000 19,000 Accumulated Depreciation 6,000 6,000 Accounts Payable 10,000 10,000 Wages Payable 2,000 2,000 C. Finley, Capital 9,391 9,391 C. Finley, Drawing 1,000 1,000 Fees Earned 46,799 46,799 Wages Expense 20,211 20,211 Rent Expense 5,003 5,003 Depreciation Expense 4,976 4,976 74,190 74,190 30,190 46,799 44,000 27,391

Use the following end-of-period spreadsheet below to answer the question that follow. Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 16,000 16,000 Accounts Receivable 6,000 6,000 Supplies 2,000 2,000 Equipment 19,000 19,000 Accumulated Depreciation 6,000 6,000 Accounts Payable 10,000 10,000 Wages Payable 2,000 2,000 C. Finley, Capital 9,391 9,391 C. Finley, Drawing 1,000 1,000 Fees Earned 46,799 46,799 Wages Expense 20,211 20,211 Rent Expense 5,003 5,003 Depreciation Expense 4,976 4,976 74,190 74,190 30,190 46,799 44,000 27,391

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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