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Seminoles Corporation’s fiscal year-end is December 31, 2018. The following is a partial adjusted trial balance...

Seminoles Corporation’s fiscal year-end is December 31, 2018. The following is a partial adjusted trial balance as of December 31.     
  

Accounts Debit Credit
  Retained Earnings $ 19,000
  Dividends $ 1,900
  Service Revenue 39,000
  Interest Revenue 4,900
  Salaries Expense 13,900
  Rent Expense 4,900
  Advertising Expense 1,900
  Depreciation Expense 9,900
  Interest Expense 3,900

     
Required:

1. Prepare the necessary closing entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Record the entry to close the revenue accounts.

Record the entry to close the expense accounts.

Record the entry to close the dividends account.

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ekkarill92 answered 1 year ago
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