The Sky Blue Corporation has the following adjusted trial balance at Decembe Debit Credit Cash $ 1,390 3,600 3,900 4,600 20,000 Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable $ 5,800 7,020 1,800 4,500 Deferred Revenue 920 Common Stock Retained Earnings Dividends 4,000 1,640 460 Sales Revenue 56,430 Rent Revenue 460 Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense 24,800 2,900 5,820 3,000 7,600 4,500 Income Tax Expense Total $82,570 $82,570 Prepare closing journal entries on December 31. (If no entry is required for a transaction/ in the first account field.)

A Company issued $5,00,000/- new capital divided into $.10/- shares at a premium of $4/- per share payable as On Application $1/- per share On Allotment $4/- per share & $.2/- premium On Final Payment $.5/- per share & $.2/- premium Overpayments on application were to be applied towards sum due on allotment. Where no allotment was made money was to be returned in full. The issue was oversubscribed to the extent of 13,000 shares. Applicants for 12,000 shares were allotted only 1,000 shares and applicants for 2,000 were sent letters of regret. All money due on allotment and final call was duly received. Make the necessary entries in the company‟s book.

What is accrual basis of accounting? Please explain and provide an example.

How do i close  expense accounts while getting ready to prepare financial statements?

Which of the following dates do NOT require a journal entry? Group of answer choices All dividend dates require a journal entry Date of payment Date of declaration Date of record

On which of the following dates related to the declaration and payment of dividends is a journal entry NOT made? a. date of payment. b. date of record. c. date of declaration.