Finley Company End-of-Period Spreadsheet For the Year Ended December 31 ? ? Adjusted Trial Balance..

Finley Company End-of-Period Spreadsheet For the Year Ended December 31 ? ? Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Cash 48,000 48,000 Accounts Receivable 18,000 18,000 Supplies 6,000 6,000 Equipment 57,000 57,000 Accumulated Depreciation 18,000 18,000 Accounts Payable 25,000 25,000 Wages Payable 6,000 6,000 C. Finley, Capital 33,000 33,000 C. Finley, Drawing 3,000 3,000 Fees Earned 155,000 155,000 Wages Expense 63,000 63,000 Rent Expense 27,000 27,000 Depreciation Expense 15,000 15,000 Totals 237,000 237,000 105,000 155,000 13

Finley Company End-of-Period Spreadsheet For the Year Ended December 31 ? ? Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Cash 48,000 48,000 Accounts Receivable 18,000 18,000 Supplies 6,000 6,000 Equipment 57,000 57,000 Accumulated Depreciation 18,000 18,000 Accounts Payable 25,000 25,000 Wages Payable 6,000 6,000 C. Finley, Capital 33,000 33,000 C. Finley, Drawing 3,000 3,000 Fees Earned 155,000 155,000 Wages Expense 63,000 63,000 Rent Expense 27,000 27,000 Depreciation Expense 15,000 15,000 Totals 237,000 237,000 105,000 155,000 132,000 82,000 Net Income (Loss) 50,000 50,000 155,000 155,000 132,000 132,000 The entry to close expenses would be: Select one: a. Income Summary 105,000 Wages Expense 63,000 Rent Expense 27,000 Depreciation Expense 15,000 b. Wages Expense 63,000 Rent Expense 27,000 Depreciation Expense 15,000 C. Finley, Drawing 105,000 c. Expenses 105,000 Income Summary 105,000 d. Wages Expense 63,000 Rent Expense 27,000 Depreciation Expense 15,000 Income Summary 105,000

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