Home / Questions / The adjusted trial balance for Yondel Company at December 31 2015 is presented below
The adjusted trial balance for Yondel Company at December 31, 2015 is presented below:
|
Debit |
Credit |
Cash |
$ 8,000 |
|
Prepaid Rent |
18,000 |
|
Land |
415,000 |
|
Accounts Payable |
|
$ 10,000 |
Salaries Payable |
|
14,000 |
Common Stock |
|
250,000 |
Retained Earnings |
|
64,000 |
Dividends |
10,000 |
|
Service Revenue |
|
350,000 |
Salaries Expense |
190,000 |
|
Rent Expense |
21,000 |
|
Utilities Expense |
26,000 |
_______ |
Totals |
$688,000 |
$688,000 |
|
|
|
Prepare the closing entries for Yondel Company for the year ended December 31, 2015.
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