The ledger of Wildhorse Company contains the following balances: Owner’s Capital $30,500, Owner’s Drawings $2,600, Service Revenue $51,000, Salaries and Wages Expense $26,300, and Supplies Expense $6,200. The closing entries are as follows: (1)   Close revenue accounts.   (2) Close expense accounts.   (3) Close net income/(loss).   (4) Close drawings.   Enter the balances in T-accounts, post the closing entries in the order presented in the problem and use the numbers as a reference. Salaries and Wages Expense select an option                                                            enter a debit amount select an option                                                            enter a credit amount Supplies Expense select an option                                                            enter a debit amount select an option                                                            enter a credit amount Service Revenue select an option                                                            enter a debit amount select an option                                                            enter a credit amount Owner’s Drawings select an option                                                            enter a debit amount select an option                                                            enter a credit amount Income Summary select an option                                                            enter a debit amount select an option                                                            enter a credit amount select an option                                                            enter a debit amount select an option                                                            enter a credit amount select an option                                                            enter a debit balance select an option                                                            enter a credit balance Owner’s Capital select an option                                                            enter a debit amount select an option                                                            enter a credit amount select an option                                                            enter a debit amount select an option                                                            enter a credit amount select an option                                                            enter a debit balance select an option                                                            enter a credit balance

The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances:   Accounts Debits   Credits Cash $ 4,500           Accounts Receivable   9,500           Supplies   3,500           Equipment   36,000            Accumulated Depreciation         $ 8,000   Accounts Payable           6,000   Utilities Payable           7,000   Deferred Revenue           0   Common Stock           23,000   Retained Earnings           9,500   Totals $ 53,500     $ 53,500       The following is a summary of the transactions for the year:   1.   January   24   Provide plumbing services for cash, $20,000, and on account, $65,000. 2.   March   13   Collect on accounts receivable, $53,000. 3.   May   6   Issue shares of common stock in exchange for $11,000 cash. 4.   June   30   Pay salaries for the current year, $33,000. 5.   September   15   Pay utilities of $7,000 from 2020 (prior year). 6.   November   24   Receive cash in advance…

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241. Subject : - Accounting

The ledger of Mai Company includes the following accounts with normal balances as of December 31: Retained Earnings $9,000; Dividends $800; Services Revenue $13,000; Wages Expense $8,400; and Rent Expense $1,600. Prepare its December 31 closing entries. 1 Record the entry to close revenue accounts.   2 Record the entry to close expense accounts.   3 Record the entry to close the income summary account.   4 Record the entry to close the dividends account.

attached below is the question  Provide closing entries and t accounts

The following items are taken from the financial statements of the Ivanhoe Service for the year ending December 31, 2021: Accounts payable Accounts receivable Accumulated depreciation - equipment Advertising expense Cash Common stock Dividends Depreciation expense Insurance expense Note payable, due 6/30/22 Prepaid insurance (12-month policy) Rent expense Retained earnings (1/1/21) Salaries and wages expense Service revenue Supplies Supplies expense $ 17800 11000 28000 21300 15300 42800 13800 11900 3100 70100 6200 17000 61700 32500 131700 4000 6000

The following is a list of alphabetically arranged accounts and balances, in highly simplified form, of VILLEGAS Company for the month of July 2018. Accounts Payable                                 P 8,000Accounts Receivable                              14,000Accumulated Depreciation                         2,000Cash                                                        8,000Equipment                                              16,000Prepaid Insurance                                     4,000VILLEGAS, Capital                                24,000VILLEGAS, Drawings                              12,000Rent Income                                           46,000Supplies                                                   8,000Unearned Rent                                          6,000Utility Expense                                         4,000Wages Expense                                     20,000 Required:1. Prepare a 10-column work sheet.2. Data for adjustment:a.      Expired…

Use the following T-accounts to prepare the four journal entries required to close the books: T-Accounts. Accounts Receivable debit balance 45,500. Fees Earned Revenue credit balance 60,000. Commission expense debit balance 7,200. Supplies Expense debit balance 5,500. Wages Expense debit balance 42,000. Dividends debit balance 3,500. Retained Earnings credit balance 51,000.

After the accounts have been adjusted at December 31the end of the fiscal year , the following balances were taken from the ledger of Zuhoor Muscat Company Share capital :RO 800,500 , Dividends RO 30, 000 ; Fees Revenue RO 779,000 Salaries Expense RO 402, 000 ; Rent Expense : RO 59,000 ; Supplies Expense : RO4.200 Miscellaneous Expense RO 10,400 To close off the expense accounts will require a debit to Income Summary of