The adjusted trial balance for yondel company at december 31, 2018 is presented below: accounts debit credit cash $ 8,000 prepaid

The modified test stability for yondel business at december 31, 2018 is provided below: records debit credit money $ 8,000 prepaid lease 23,000 land 445,000 records payable $ 12,000 wages payable 20,000 typical stock 230,000 retained profits 109,000 dividends 14,000 solution income 340,000 wages expense 160,000 rent expenditure 29,000 resources expense 32,000 totals $ 711,000 $ 711,000 prepare the finishing entries for yondel business for 12 months finished december 31, 2018.

Answer

Explanation: money                        =8000 Prepaid lease           = 23,000 Land                       = 445000 records payable                              = 12,000 wages payable                                  = 20,000 Retained profits                              = 109,000 Dividends                    = 14,000 provider income                                   = 340,000 wages costs      = 160,0000 lease costs             = 29,000 resources costs         = 32,000 net gain = program income – Salaries-Rent-Utilities- =340,000-160,000-29,000-32,000 = 119,000 Journal 1.     Debit  provider income   – 340,000 Credit earnings summary –                  340,000 2,    Debit money summary –    221,000 Credit wages costs                              160,000 Credit lease costs                                     29,000 Credit Utilities costs                                 32,000 3     Debit earnings summary          119,000 Credit retained profits                                  119,000 4     Debit retained profits          14,000 Credit retained profits                                   14,000

Also Read :   Total contribution margin in dollars divided by pretax income is the: Multiple Choice Degree of operating leverage. Contribution margin

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