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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
The following is the adjusted trial balance as of December 31, 2017 of Piedmont Exteriors, Inc.:

Accounts   Debit   Credit
Cash   $ 18,000   
Accounts Receivable   30,000   
Prepaid Insurance   9,000   
Office Supplies   3,200   
Building   165,000   
Accumulated DepreciationBuilding      $ 12,000
Equipment   88,000   
Accumulated DepreciationEquipment      8,500
Land   45,000   
Accounts Payable      12,000
Salaries Payable      2,000
Unearned Revenue      25,000
Mortgage Payable      100,000
Common Stock      21,290
Dividends   25,840   
Service Revenue      325,000
Salaries Expense   63,000   
Depreciation ExpenseBuilding and Equipment   6,250   
Supplies Expense   15,000   
Insurance Expense   14,500   
Utilities Expense   23,000   _______
Total   $505,790   $505,790


Provide the closing entry for the Income Summary account.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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TanksTanks
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7 years ago
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H3Ko Author
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#2
7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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#3
5 years ago
thank you
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