The Ledger Of Rios Company Contains The Following Balances: Retained Earnings $30,000; Dividends $2,000; Service Revenue $50,000; Salaries And Wages Expense $27,000; And Supplies Expense $7,000. The Closing Entries Are As Follows: (1) Close Revenue Accounts. (2) Close Expense Accounts. (3) Close Net Income/(loss). (4) Close Dividends. Enter The Balances In The T-accounts, Post The Closing Entries In The Order Presented In The Problem And Use The Numbers As A Reference

The ledger of Rios Company contains the following balances: Retained Earnings $30,000; Dividends $2,000; Service Revenue $50,000; Salaries and Wages Expense $27,000; and Supplies Expense $7,000. The closing entries are as follows: (1) Close revenue accounts. (2) Close expense accounts. (3) Close net income/(loss). (4) Close dividends. Enter the balances in the T-accounts, post the closing entries in the order presented in the problem and use the numbers as a reference

- October 5, 2022 - Edwin Tunner

The ledger of Rios Company contains the following balances: Retained Earnings $30,000; Dividends $2,000; Service Revenue $50,000; Salaries and Wages Expense $27,000; and Supplies Expense $7,000.

The closing entries are as follows:

(1)	Close revenue accounts.
(2)	Close expense accounts.
(3)	Close net income/(loss).
(4)	Close dividends.

Enter the balances in the T-accounts, post the closing entries in the order presented in the problem and use the numbers as a reference.

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