47Please refer to the following adjusted trial balance, and prepare the closing entry for Revenues.
Account TitleDebitCredit
Cash$1,700
Accounts receivable8,500
Supplies100
Equipment7,500
Accumulated depreciation$2,000
Accounts payable1,200
Salary payable800
Unearned revenue600
Common stock1,000
Retained earnings2,400
Dividends2,300
Service revenue40,000
Salary expense24,000
Supplies expense2,300
Depreciation expense1,600
$48,000$48,000
48Please refer to the following adjusted trial balance, and prepare the closing entry for Expenses.
Account TitleDebitCredit
Cash$1,700
Accounts receivable8,500
Supplies100
Equipment7,500
Accumulated depreciation$2,000
Accounts payable1,200
Salary payable800
Unearned revenue600
Common stock1,000
Retained earnings2,400
Dividends2,300
Service revenue40,000
Salary expense24,000
Supplies expense2,300
Depreciation expense1,600
$48,000$48,000
49Please refer to the following adjusted trial balance, and prepare the closing entry for the Income summary account.
Account TitleDebitCredit
Cash$1,700
Accounts receivable8,500
Supplies100
Equipment7,500
Accumulated depreciation$2,000
Accounts payable1,200
Salary payable800
Unearned revenue600
Common stock1,000
Retained earnings2,400
Dividends2,300
Service revenue.40,000
Salary expense24,000
Supplies expense2,300
Depreciation expense1,600
$48,000$48,000
50Please refer to the following adjusted trial balance, and prepare the closing entry for the Dividends account.
Account TitleDebitCredit
Cash$1,700
Accounts receivable8,500
Supplies100
Equipment7,500
Accumulated depreciation$2,000
Accounts payable1,200
Salary payable800
Unearned revenue600
Common stock1,000
Retained earnings2,400
Dividends2,300
Service revenue.40,000
Salary expense24,000
Supplies expense2,300
Depreciation expense1,600
$48,000$48,000