Details of this Paper

The ledger of Rios Company contains the following balances: Owner?s Capital $28,783;Owner?s Drawings $1,397;Service Revenue $50,691;Salaries and Wages Expense $26,061;and Supplies Expense $7,707

Description

solution


Question

The ledger of Rios Company contains the following balances: Owner?s Capital $28,783, Owner?s Drawings $1,397, Service Revenue $50,691, Salaries and Wages Expense $26,061, and Supplies Expense $7,707.;Prepare the closing entries at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually.);Date Account Titles and Explanation Debit Credit;Dec. 31;(To close revenue account.);31;(To close expense accounts.);31;(To close net income/ (loss).);31;(To close drawings.)

 

Paper#76268 | Written in 18-Jul-2015

Price : $22
SiteLock