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From the Data Below for the Sorta Company, Prepare the Closing

question 24

Essay

From the data below for the Sorta Company, prepare the closing entries for the year ended December 31, 20--. $\begin{array} { l r } \text { Cash dividends } & \$ 105,000 \\\text { Sales } & 987,000 \\\text { Sales returns and allowances } & 5,200 \\\text { Interest revenue } & 3,700 \\\text { Factory overhead (debit) } & 205,300 \\\text { Factory overhead (credit) } & 205,300 \\\text { Cost of goods sold } & 674,200 \\\text { Wages expense } & 112,000 \\\text { Supplies expense } & 5,300 \\\text { Depreciation expense-office equipment } & 4,200 \\\text { Utilities expense } & 5,700 \\\text { Bad debt expense } & 1,300 \\\text { Advertising expense } & 6,300 \\\text { Interest expense } & 4,700 \\\text { Income tax expense } & 61,950\end{array}$ $From the data below for the Sorta Company, prepare the closing entries for the year ended December 31, 20--. \begin{array} { l r } \text { Cash dividends } & \$ 105,000 \\ \text { Sales } & 987,000 \\ \text { Sales returns and allowances } & 5,200 \\ \text { Interest revenue } & 3,700 \\ \text { Factory overhead (debit) } & 205,300 \\ \text { Factory overhead (credit) } & 205,300 \\ \text { Cost of goods sold } & 674,200 \\ \text { Wages expense } & 112,000 \\ \text { Supplies expense } & 5,300 \\ \text { Depreciation expense-office equipment } & 4,200 \\ \text { Utilities expense } & 5,700 \\ \text { Bad debt expense } & 1,300 \\ \text { Advertising expense } & 6,300 \\ \text { Interest expense } & 4,700 \\ \text { Income tax expense } & 61,950 \end{array}$

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