Mai Company’s general ledger includes the following accounts with normal balances: Common Stock $9,000; Dividends $800; Income from Services $13,000; Salary Expenses $8,400; and rental expenses $1,600. Prepare the necessary closing entries based on the information available as of December 31.

Sep 8, 2023

Mai Company’s general ledger includes the following accounts with normal balances: 

Common Stock $9,000; 

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Mai Company’s general ledger includes the following accounts with normal balances: Common Stock $9,000; Dividends $800; Income from Services $13,000; Salary Expenses $8,400; and rental expenses $1,600. Prepare the necessary closing entries based on the information available as of December 31.
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Dividends $800; 

Income from Services $13,000; 

Salary Expenses $8,400; and 

rental expenses $1,600. 

Prepare the necessary closing entries based on the information available as of December 31.

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