contestada

The year-end adjusted trial balance of Aggies Corporation included the following account balances: Retained Earnings, $230,000; Service Revenue, $900,000; Salaries Expense, $390,000; Rent Expense, $150,000; Interest Expense, $85,000; and Dividends, $60,000. Record the necessary closing entries.

Respuesta :

jafransp

Answer:

See explanation section.

Explanation:

We know,

Service Revenues - Expenses = Net Income

So from closing entries, we will close revenues, expenses to income summary and income summary and dividends to retained earnings. See the following image.

Ver imagen jafransp

Otras preguntas