ne adjusted trial balance for Yondel Company at December 31, 2021 is presented below Accounts Debit Credit Cash $ 5,000 20,000 415,000 Prepaid rent Land Accounts payable Salaries payable $ 13,000 17,000 230,000 69,000 Common stock Retained earnings Dividends Service revenue Salaries expense 13,000 330,000 160,000 21,000 Rent expense Utilities expense 25,000 Totals $659,000 $659,000 Prepare the closing entries for Yondel Company for the year ended December 31, 2021. (If n- transaction/event, select "No journal entry required" in the first account field.)
ne adjusted trial balance for Yondel Company at December 31, 2021 is presented below Accounts Debit Credit Cash $ 5,000 20,000 415,000 Prepaid rent Land Accounts payable Salaries payable $ 13,000 17,000 230,000 69,000 Common stock Retained earnings Dividends Service revenue Salaries expense 13,000 330,000 160,000 21,000 Rent expense Utilities expense 25,000 Totals $659,000 $659,000 Prepare the closing entries for Yondel Company for the year ended December 31, 2021. (If n- transaction/event, select "No journal entry required" in the first account field.)
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter3: Accrual Accounting
Section: Chapter Questions
Problem 5MCQ: Dallas Company loaned to Ewing Company on December 1, 2019. Ewing will pay Dallas $720 of interest...
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