after the accounts have been adjusted at august 31 the end of the fiscal year the fo 541696
Closing entries
After the accounts have been adjusted at August 31, the end of the fiscal year, the following balances were taken from the ledger of Marcy Delivery Services Co.:
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after the accounts have been adjusted at august 31 the end of the fiscal year the fo 541696
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|
Retained Earnings |
$1,400,000 |
|
Dividends |
55,000 |
|
Fees Earned |
880,000 |
|
Wages Expense |
524,000 |
|
Rent Expense |
80,000 |
|
Supplies Expense |
16,000 |
|
Miscellaneous Expense |
9,000 |
Journalize the four entries required to close the accounts.
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