The Following Is the Adjusted Trial Balance for Tuttle Photography

question 87

Essay

The following is the adjusted trial balance for Tuttle Photography.
$\begin{array}{|l|r|r|}\hline\text { Account } &{\text { Debit }} &\text { Credit }\\\hline \text { Cash } & \$ 1,700 \\\hline \text { Accounts receivable } & 8,500 \\\hline \text { Supplies } & 100 \\\hline \text { Equipment } & 7,500 \\\hline \text { Accumulated } && \$ 2,000 \\\text { depreciation } & & \\\hline \text { Accounts payable } & & 1,200 \\\hline \text { Salary payable } & & 800 \\\hline \text { Unearned revenue } & & 600\\\hline \text { Capital } & & 3,400 \\\hline \text { Drawing } & 2,300 & \\\hline \text { Service revenue } & & 40,000 \\\hline \text { Salary expense } & 24,000 \\\hline \text { Supplies expense } & 2,300 \\\hline \text { Depreciation expense } & 1,600 \\\hline & \$ 48,000&\$48,000\\\hline\end{array}$ Using the information from the worksheet above,prepare the closing entry for the Income summary account.
$$\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}$$

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Definitions:

Observable Culture

The elements of culture such as rituals, symbols, and behaviors that can be seen and experienced in an organization.

Core Values

Fundamental beliefs or principles that guide the behavior and decision-making within an organization.

Pre-Observable Culture

Refers to the underlying beliefs, assumptions, and values that exist within an organization but are not immediately visible or easily detectable.

Workplace Spirituality

A framework within organizations that promotes employees' sense of purpose through work, respects their inner lives, and integrates their core values and beliefs into the workplace.