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.

The ledger of Ivanhoe Company contains the following balances: Owner’s Capital $31,500, Owner’s Drawings $2,800, Service Revenue $49,000, Salaries and Wages Expense $27,600, and Supplies Expense $6,800.Prepare the closing entries at December 31.

The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2017: Cash Accounts Receivable Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Office Equipment 10,500 8,100 245,400 Accumulated Depreciation Office Equipment 166,800 Store Equipment 766,100 Accumulated Depreciation-Store Equipment 245,400 Accounts Payable 166,800 Salaries Payable 10,800 Customer Refunds Payable 10,000 Estimated Coupons Payable 3,000 Note Payable (final payment due in 20 years) 357,500 61,400 491,600 66,800 Common Stock Retained Earnings Dividends Sales Cost of Goods Sold Sales Salaries Expense Advertising Expense Depreciation Expense-Store Equipment Miscellaneous Selling Expense Office Salaries Expense Rent Expense $111,500 297,400 339,000 5,000 4,085,000 2,362,800 Insurance Expense Depreciation Expense- Office Equipment Office Supplies Expense Miscellaneous Administrative Expense Interest Expense Required: 1. Prepare…

Shown below in alphabetical order are the accounts for Reduce Reuse Remodel, Inc. at the end of the company’s fiscal year, June 30, 2021.  The amounts are rounded to the nearest $1,000. Accounts payable $    30 Notes payable (due in 5 years) $100   Accounts receivable 18 Prepaid insurance 8 Accumulated depreciation 160 Remodeling revenue 650 Cash 15 Rent expense 63 Common stock 150 Retained earnings, 7/1/20 79 Depreciation expense 40 Salaries expense 150 Dividends 25 Salaries payable 17 Equipment 500 Supplies 31 Income taxes payable 3 Supplies expense 275 Miscellaneous expense 84 Unearned revenue 20 Calculate Net Income for the year ending 6/30/21.

Brett Thomas Enterprises had the following accounts and normal balances listed on its December 31st adjusted trial balance: Service Revenue, $20,300; Salaries Expense, $6,100; Rent Expense, $4,500; Advertising Expense, $3,400; and Thomas, Withdrawals, $3,900. Journalize the closing entries for Thomas Enterprises. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing revenues. Date Accounts and Explanation Debit Credit Dec. 31 Close all the expense accounts for the period. Date Accounts and Explanation Debit Credit Dec. 31 Close Income Summary. Date Accounts and Explanation Debit Credit Dec, 31 Close withdrawals.

Selected accounts and related amounts for Druid Hills Co. for the fiscal year ended May 31, 20Y8, are presented in Problem 6-5A.   Adjunt problem 6-5A Instructions 1. Prepare a single-step income statement in the format shown in Exhibit 12. 2. Prepare closing entries as of May 31, 20Y8.

1. Prepare the closing entries (use the income summary account). 2. Prepare the post-closing (December 31, 2018) trial balance. 3. Prepare the January 1, 2019 opening trial balance. SafetyFirst Corporation Adjusted Trial Balance 2018 December 31. Workbook last modified: August 11 Debit Credit Cash 950,000 Accounts Receivable 3,800,000 Allowance for Doubtful Accounts 750,000 Inventory 8,500,000 Prepaid Insurance Notes Receivable Equipment 16,250,000 Building 2,800,000 Land 800,000 Accumulated Depreciation: Equipment Accumulated Depreciation: Building Accounts Payable 7,000,000 900,000 5,600,000 Notes Payable (Short-Term) Salaries Payable Interest Payable Mortgage Payable (Long-Term) 2,770,000 Common Stock Par $ 0.10 280,000 Additional Paid-In Capital Retained Earnings Dividends 10,000,000 800,000 Sales (Revenue) 35,300,000 Rent Revenue Cost of Goods Sold (COGS) Selling Expense Administrative Expense 23,500,000 2,150,000 2,450,000 Interest Expense Loss on Disposition of Equipment Income…

The year-end adjusted trial balance of Aggies Corporation included the following account balances: Retained Earnings, $219,000; Service Revenue, $845,000; Salaries Expense, $379,000; Rent Expense, $139,005; Interest Expense, $74,000; and Dividends, $49,000. Record the necessary closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list 1 Record the entry to close revenue accounts. 2 Record the entry to close expense accounts. 3 Record the entry to close dividend accounts. Credit Note : = journal entry has been entered View general jouurnal