The Following Is the Adjusted Trial Balance as of December

question 118

Essay

The following is the adjusted trial balance as of December 31,2019 of Martin Security Services,Inc.:

Prepare the closing entry for revenues.Omit explanation.

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Definitions:

Tax Laws

Legislation that determines how much individuals and businesses must pay the government from their income and financial transactions.

Dividends

Payments made by a corporation to its shareholder members, representing a portion of the corporation's earnings.

Shareholders

Shareholders are individuals or institutions that legally own one or more shares of stock in a public or private corporation, making them partial owners of the company.

Summarized Financial

Financial statements that present a concise overview of a company's financial position and performance, without detailed disclosures.