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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.

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 2 years ago
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