Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the journal entry to close the fees earned, $132,

The journal entry to close the Fees Earned, $132, and Rent Revenue, $27, accounts during...

80.2K

Verified Solution

Question

Accounting

The journal entry to close the Fees Earned, $132, and Rent Revenue, $27, accounts during the year-end closing process would be:

Dec. 31Revenues159

Income Summary159

Dec. 31Income Summary159

Fees Earned132

Rent Revenue27

Dec. 31Fees Earned132

Rent Revenue27

Income Summary159

Dec. 31Income Summary159

Revenues159

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

1. What are the roles of the lateral hypothalamus and ventromedial hypothalamus in signaling hunger and...

Psychology
Q

(A) Let a,b,c?Z. Prove that if gcd(a,b)=1 and a?bc, then a?c. (B) Let p ? 2. Prove...

Advance Math
Q

Harley Davidson purchases components from three suppliers. Components purchased from Supplier A are priced at $...

General Management
Q

In an experiment investigating the effects of lead on the nervous system of rats, theexperimental...

Biology
Q

A B The following are four different potential outcomes for the Meselson Stahl experiment Please...

Biology
Q

Consider a parallel-plate capacitor with plates ofarea A and with separation d.Part AFind F (V),...

Physics
Q

I The SI unit of calorific value is KJ kg II Fuels containing oxygen atoms...

Physics
Q

One serving of a certain brand of yogurt contains 6 g of fat The low...

Basic Math
Q

Do you agree or disagree with the argument made in this case that many hardware...

Accounting
Q

Activity Take: Practice! Percent of Sales Method Question 1 Percent of Sales Method At the...

Accounting
Q

You must evaluate the purchase of a spectrometer for the R&D department. The base price...

Finance
Q

ABC Company reported actual operating income for the current year as $100,000. The flexible budget...

Accounting