Automation Services Co. offers its services to companies desiring to use technology to improve their operations. After the accounts have been adjusted at December 31, the end of the fiscal year, the following balances were taken from the ledger of Automation Services Fees Earned Dividends Rent Expense Retained Earnings Supplies Expense Wages Expense Miscellaneous Expense $614,500 45,000 140,000 3,250,000 18,200 320,000 8,700 Journalize the closing entries. Refer to the Chart of Accounts for exact wording of account titles.

Automation Services Co. offers its services to companies desiring to use technology to improve their operations. After the accounts have been adjusted at December 31, the end of the fiscal year, the following balances were taken from the ledger of Automation Services Fees Earned Dividends Rent Expense Retained Earnings Supplies Expense Wages Expense Miscellaneous Expense $614,500 45,000 140,000 3,250,000 18,200 320,000 8,700 Journalize the closing entries. Refer to the Chart of Accounts for exact wording of account titles.

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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