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Prepare the Necessary Closing Entries Based on the Following Selected

question 152

Essay

Prepare the necessary closing entries based on the following selected accounts.  Accumulated Depreciation $10,000 Depreciation Expense 4,000 Retained Earnings 20,000 Dividends 12,000 Salaries and Wages Expense 18,000 Service Revenue 31,000\begin{array} { l r } \text { Accumulated Depreciation } & \$ 10,000 \\\text { Depreciation Expense } & 4,000 \\\text { Retained Earnings } & 20,000 \\\text { Dividends } & 12,000 \\\text { Salaries and Wages Expense } & 18,000 \\\text { Service Revenue } & 31,000\end{array}

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