Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $600 were declared at the end of the year, and 640 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,930 in cash (for a total at the end of the year of 830 shares). These effects are included below:
Prepare the closing entry at the end of the current year.
Date | General Journal | Debit | Credit |
Sales revenue | $ 39,550 | ||
Interest revenue | $ 260 | ||
Rent revenue | $ 680 | ||
Income summary | $ 40,490 | ||
(To close revenue accounts) | |||
Income summary | $ 31,780 | ||
Wages expense | $ 19,000 | ||
Depreciation expense | $ 1,770 | ||
Utilities expense | $ 400 | ||
Insurance expense | $ 670 | ||
Rent expense | $ 7,300 | ||
Income tax expense | $ 2,640 | ||
(To close expenditure accounts) | |||
Income summary ($40,490-$31,780) | $ 8,710 | ||
Retained earnings | $ 8,710 | ||
(To close income summary) |
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Catena's Marketing Company has the following adjusted trial balance at the end of the current year....
Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $600 were declared at the end of the year, and 600 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,400 in cash (for a total at the end of the year of 830 shares). These effects are included below: Catena’s Marketing Company Adjusted Trial Balance End of the Current Year...
Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $630 were declared at the end of the year, and 550 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,200 in cash (for a total at the end of the year of 830 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year...
Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $630 were declared at the end of the year, and 600 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,400 in cash (for a total at the end of the year of 830 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year...
Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $600 were declared at the end of the year, and 610 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,440 in cash (for a total at the end of the year of 830 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year...
Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $590 were declared at the end of the year, and 610 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,440 in cash (for a total at the end of the year of 840 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year...
Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $600 were declared at the end of the year, and 570 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,970 in cash (for a total at the end of the year of 820 shares). These effects are included below: Catena’s Marketing Company Adjusted Trial Balance End of the Current Year...
Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $630 were declared at the end of the year, and 550 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,930 in cash (for a total at the end of the year of 850 shares). These effects are included below: Catena’s Marketing Company Adjusted Trial Balance End of the Current Year...
Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $600 were declared at the end of the year, and 660 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,640 in cash (for a total at the end of the year of 820 shares). These effects are included below: Catena's Marketing Company has the following adjusted trial balance at the...
Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $650 were declared at the end of the year, and 630 additional shares of common stock (50.10 par value per share) were issued at the end of the year for $2.520 in cash for a total at the end of the year of 810 shares). These effects are included below 1,620 Catena's Marketing Company Adjusted Trial Balance End of the Current...
Chapter 4 Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $600 were declared at the end of the year, and 660 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,640 in cash (for a total at the end of the year of 810 shares). These effects are included below: Catena's Marketing Company has the following adjusted trial balance...