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H3Ko H3Ko
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Posts: 4891
7 years ago
The following is the adjusted trial balance as of December 31, 2016 of Mason Photography:

Account   Debit   Credit
Cash   $1,700   
Accounts Receivable   8,500   
Supplies   100   
Equipment   7,500   
Accumulated DepreciationEquipment      $2,000
Accounts Payable      1,200
Salaries Payable      800
Unearned Revenue      600
Common Stock      3,400
Dividends   2,300   
Service Revenue      40,000
Salaries Expense   24,000   
Supplies Expense   2,300   
Depreciation ExpenseEquipment   1,600   ______
Total   $48,000   $48,000

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

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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.unplugged..unplugged.
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Posts: 1272
7 years ago
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H3Ko Author
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7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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