question the income statement for the kingbird inc for the month ended july 31 shows 4282895

Question

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.

(a)

Date

Account Titles and Explanation

Debit

Credit

(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

CLOSE

Brief Exercise 4-14 (Part Level Submission)

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.