Show Me How Calculator Print ltem eBook Closing Entries Afte

Show Me How Calculator Print ltem eBook Closing Entries After the accounts have been adjusted at July 31, the end of the fiscal year, the following balances were taken from the ledger of Cabriolet Services Co.: Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Supplies Expense $528,380 26,000 437,845 275,200 66,000 24,770 8,255 Miscelianeous Expense Journalize the four entries required to close the accounts. If an amount box does not require an entry, leave it blank uly 31 Close revenues July 31 Cose expenses Previous Next Check My Work

Solution

Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars Debit Credit Service Fees Dr           437,845.00 To Income Summary           437,845.00 Income Summary Dr           374,225.00 To Wages Expense           275,200.00 To Rent Expense             66,000.00 To Supplies Expense             24,770.00 To Miscellaneous Expense                8,255.00 Income Summary Dr             63,620.00 To retained earnings             63,620.00 Retained earnings Dr             26,000.00 To Dividends             26,000.00