Question

please help

Flint Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Credit Debit $9,850 8,500 15,800 Flint Company Adjusted Trial Balance July 31, 2019 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 111 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense 732 Utilities Expense $7,300 4,700 2,500 19,050 26,000 15,500 63,000 6,000 7,500 56,400 15,000 $128,550 $128,550

Answer 1

July 31 lesing enby to close Revenue account to the Income summary Account debit Credit Service Rent Revenue Revenue Income summary 63,000 6,000 69,000 July 31 To Close Expense account to the Income summary Account lebit Gedst Income summary 78,900 lepreciation Expense Salaries and wagg expense utilities Expense 17500 56, yoo 115,ood July 31 To close Net Income Iloss. Account Rebit Credit 9,900 Retained Earning Income summary Plass= 69000 - 78900) > (9900) 19,900

July 31 To close dividends Account Debit C$) Credit C$ 15,500 Retained Earnings Dividend 15,500