fter the accounts have been adjusted at April 30, the end of the fiscal year, th

Question

fter the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Nuclear Landscaping Co.: Retained Earnings $643,600 Dividends 10,500 Fees Earned 356,500 Wages Expense 283,100 Rent Expense 56,000 Supplies Expense 11,500 Miscellaneous Expense 13,000 Journalize the four entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles. After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Nuclear Landscaping Co.: Retained Earnings $643,600 Dividends 10,500 Fees Earned 356,500 Wages Expense 283,100 Rent Expense 56,000 Supplies Expense 11,500 Miscellaneous Expense 13,000 Journalize the four entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS Nuclear Landscaping Co. General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Rent 15 Land LIABILITIES 21 Accounts Payable 22 Unearned Fees 23 Wages Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends 34 Income Summary REVENUE 41 Fees Earned EXPENSES 51 Wages Expense 52 Rent Expense 53 Supplies Expense 59 M

Explanation / Answer

30-Apr Fees Earned 356500        Income Summary 356500 30-Apr Income Summary 363600       Wages Expense 283100       Rent Expense 56000       Supplies Expense 11500       Miscellaneous Expense 13000 30-Apr Retained Earnings 7100        Income Summary 7100 30-Apr Retained Earnings 10500       Dividends 10500

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