Closing entries
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.