plus.com/edugen/student/mainfr.uni ent The adjusted trial balance columns of the

Question

plus.com/edugen/student/mainfr.uni ent The adjusted trial balance columns of the worksheet for DeSousa Company are as f DESOUSA COMPANY Worksheet (partial) For the Month Ended April 30, 2017 Adjusted Trial Balance Account Titles Dr. Cr. Cash Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation-Equip. Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Rent Expense Depreciation Expense Interest Expense Interest Payable 10,000 7,840 2,280 23,050 4,921 5,700 4,920 20,000 7,960 3,650 15,590 10,840 760 671 57 57 59,148 Totals 59,148 Your ancwor is correct Policy 1 2000-2018 John Wiley & Sons, Inc, All Rights Reserved. A Division of John Wiley & S

Explanation / Answer

Journal Entry No. Date Account Titles and Explanation Debit Credit 1 Apr. 30 Service revenue 15590 Income summary 15590 (To close revenue account) 2 Apr. 30 Income summary 12328 Salaries and wages expense 10840 Rent expense 760 Depreciation expense 671 Interest expense 57 (To close expense accounts) 3 Apr. 30 Income summary 3262 Retained earnings 3262 (To close net income/(loss)) 4 Apr. 30 Retained earnings 3650 Dividends 3650 (To close dividends) Income Summary 2 $10,840.00 1 $15,590.00 $760.00 $671.00 $57.00 3 $3,262.00 Retained Earning 4 3650 Bal $7,960.00 3 $3,262.00 Bal $7,572.00

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