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Using the data from the partial adjusted trial balance below. Prepare the closing entries. Rinse
and repeat: 1. Close ALL Revenues accounts to Income Summary. 2. Close ALL Expense
accounts to Income Summary. 3. Close Income Summary to Retained Earnings. 4. Close
Dividends (if there were any) to Retained Earnings

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  • 1. Using the data from the partial adjusted trial balance below. Prepare the closing entries. Rinse and repeat: 1. Close ALL Revenues accounts to Income Summary. 2. Close ALL Expense accounts to Income Summary. 3. Close Income Summary to Retained Earnings. 4. Close Dividends (if there were any) to Retained Earnings