I need help with the income summary and retained earnings. Thank you for your help.
Exercise 4-4 (Part Level Submission) The adjusted trial balance columns of the worksheet for DeSousa Company are as follows. DESOUSA COMPANY Worksheet (partial) For the Month Ended April 30, 2017 Adjusted Trial Balance Account Titles Dr. Cr. Cash 10,000 Accounts Receivable 7,840 Prepaid Rent 2,280 23,050 Equipment Accumulated Depreciation-Equip Notes Payable 4,921 5,700 Accounts Payable 4,920 20,000 Common Stock Retained Earnings 7,960 Dividends 3,650 15,590 Service Revenue Salaries and Wages Expense 10,840 Rent Expense 760 Depreciation Expense 671 Interest Expense 57 Interest Payable 57 59,148 Totals 59,148 Journalize the closing entries at April 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit (1) Apr. 30 Service Revenue 15,590 Income Summary 15,590 (To close revenue account) (2) Apr. 30TIncome Summary 12,328 Salaries and Wages Exp 10,840 Rent Expense 760 Depreciation Expense 671 57 Interest Expense (To close expense accounts) (3) Apr. 30TIncome Summary 3,262 Retained Earnings 3,262 (To close net income/ (loss)) 30TRetained Earnings (4) 3,650 Dividends 3,650 (To close dividends) PPPPP PE (b) Post the closing entries to Income Summary and Retained Earnings. (Post entries in the order of journal entries posted in the previous part of the question.) Income Summary Retained Earnings
A ski company in Vail owns two ski shops, one on the west side and one on the east side of Vail. Ski hat sales data (in dollars) for a random sample of 5 Saturdays during...Apr 04 2020
devry cis336 week 1 ilab latest 2016 march.equella.ecollege.com/file/4c59b998-a778-4673-b5b5-1040a4a59543/17/CIS336_W1_iLab.html”>iLab> Required Software Lab 1 of 7: No...Apr 15 2020
You are given the following information on Kaleb's Welding Supply: Profit margin 5.3 % Capital intensity ratio .62 Debt–equity ratio .6 Net income $ 54,000 Dividends $ 13...Apr 05 2020
Data Pro is a small but rapidly growing firm that provides electronic data-processing services to commercial firms, hospitals, and other organizations. For each of the pa...May 07 2020
Identify and describe the key supply factors that are important to hospitality organizations.Nov 27 2019
Daisymay Van Line moves people between New York, Philadelphia, and Washington, D.C. It takes a van one day to travel between any two of these cities. The company incurs c...Aug 10 2020
As the simulation opens, your company is still selling directly to the customer through phonebanks or issuing tickets through travel agents and corporate travel accounts....May 17 2018
A straw oil that is used to absorb benzene from coke-oven gas, is to be steam-stripped in a sieve-plate column at 1 atm to recover benzene. Henry’s law is used to approxi...Jul 18 2020
(20 points) Greek Letters A financial institution has the following portfolio of over-the-counter options on IBM stock: Type Position Delta of option Vega of option 1....Aug 08 2020
I'm working on an assignment involving WACC for Walmart. One of the questions asks for the own-bond-yield-plus-judgmental-risk-premium. I'm not sure I understand what the...Aug 15 2020
Welcome to MyCourseHelp Services, World's leading Academic solutions provider with Millions of Happy Students.