The income statement for the Kingbird, Inc. for the month ended July 31 shows Service Revenue $19,520, Salaries and Wages Expense $8,620, Maintenance and Repairs Expense $2,920, and Income Tax Expense $1,240. The statement of retained earnings shows an opening balance for Retained Earnings of $24,290 and Dividends $1,600.
Account Titles and Explanation
(To close revenue account)
(To close expense accounts)
(To close net income/(loss) to retained earnings)
(To close dividends to retained earnings)
List Of Accounts
Brief Exercise 4-14 (Part Level Submission)