Question

ppendix 1: Closing Entries From an End-of-Period Spreadsheet Alert Security Services Co. offers security services to business dients. Alert Security Services Co. End-of-Period Spreadsheet For the Year Ended October 31, 2018 Adjusted Trial Balance Income Statement Balance Sheet Account Title Dr. Cr. Dr. Cr Dr Cr. 314 2,306 105 79 2,620 1,048 Cash Accounts Receivable Supplies Prepaid Insurance Land Equipment Accum. Depr. Equipment Accounts Payable Wages Payable Common Stock 210 943 105 80 4,478 Retained Earnings Dividends 210 fees Earned 2,568 Wages Expense 629 Pre Check My Work 3 more Check My Work uses remaining

Answer 1

Closing entries for Alert Security Services Co.
Date	Account Titles	Debit	Credit
Close Revenues
Oct.31	Fees Earned	$2,568.00
	Income Summary		$2,568.00
Close Expenses
Oct.31	Income Summary	$1,702.00
	Wages Expense		$629.00
	Rent Expense		$314.00
	Insurance Expense		$262.00
	Utilities Expense		$183.00
	Supplies Expense		$157.00
	Depreciation Expense - Equip		$105.00
	Misecellaneous Expense		$52.00
Close Income / (loss)
Oct.31	Income Summary	$866.00
	Retained Earnings		$866.00
Close dividends
Oct.31	Retained Earnings	$210.00
	Dividends		$210.00