After the Accounts Have Been Adjusted at January 31, the End

question 151

Essay

After the accounts have been adjusted at January 31, the end of the fiscal year, the following balances are taken from the ledger of Harrison's Dog Walking Service Company:
$$\begin{array} { l l } \text { Common Stock } & \$ 340,000 \\\text { Retained Earnings } & 9,000 \\\text { Dividends } & 6,000 \\\text { Fees Earned } & 124,600 \\\text { Wages Expense } & 29,000 \\\text { Rent Expense } & 43,000 \\\text { Supplies Expense } & 7,300 \\\text { Miscellaneous Expense } & 5,700\end{array}$$ Journalize the four entries required to close the accounts

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Definitions:

Estimate

An approximation or educated guess based on partial information or data.

Data

Information collected for reference or analysis, often numeric, but can be in various forms.

Outliers

Observations in a dataset that lie an abnormal distance from other values, often indicating variability or error.

Labeled Points

Data points that are assigned a label or category as part of a dataset, often used in machine learning and data analysis.