Sebastien Company Earned Net Income of $44,000 During 2018

question 87

Essay

Sebastien Company earned net income of $44,000 during 2018. The company paid dividends totalling $20,000 during the period. Prepare the entries to close Income Summary and the Dividends account.

---

Definitions:

Bacteria

Single-celled microorganisms that can live in a variety of environments, some of which can be beneficial to human health while others can cause diseases.

Developed Countries

Nations with advanced industrial infrastructure and high living standards.

Lifestyle Factors

Elements or behaviors of an individual's lifestyle that can influence their health and quality of life, such as diet, exercise, and smoking.