175. Below is the adjusted trial balance at December 31, 2010 for Beachside Realty, a company that rents condominiums and furnishings. Debit Credit Cash $ 1,500 Accounts receivable 2,000 Interest receivable 100 Prepaid insurance 1,600 Notes receivable (long-term) 2,800 Equipment 15,000 Accumulated depreciation $7,000 Accounts payable 2,400 Accrued expenses payable 3,920 Income taxes payable 2,700 Unearned rent fees 500 Capital Stock 1,000 Retained Earnings 3,700 Dividends 2,000 Rent fees earned 36,000 Furniture rental revenue 1,200 Interest revenue 100 Wages expense 19,000 Depreciation expense 1,800 Utilities expense 320 Insurance expense 700 Maintenance expense 9,000 Income tax expense 2,700 Total $ 58,520 $ 58,520 Prepare the entry required to close the revenue accounts at the end of the period.

175. Below is the adjusted trial balance at December 31, 2010 for Beachside Realty, a company that rents condominiums and furnishings. Debit Credit Cash $ 1,500 ...

175. Below is the adjusted trial balance at December 31, 2010 for Beachside Realty, a company that rents condominiums and furnishings.

Prepare the entry required to close the revenue accounts at the end of the period.

May 15, 2022