The Following Is the Adjusted Trial Balance as of December

question 61

Essay

The following is the adjusted trial balance as of December 31,2019 of Barone Brothers Company:
$\begin{array}{|l|r|r|}\hline \text { Accounts } & { \text { Debit } } & { \text { Credit } } \\\hline \text { Cash } & \$ 18,000 \\\hline \text { Accounts Receivable } & 30,000 \\\hline \text { Prepaid Insurance } & 9,000 \\\hline \text { Office Supplies } & 3,200 \\\hline \text { Land } & 45,000 \\\hline \text { Building } & 165,000 \\\hline \text { Accumulated Depreciation-Building } & & \$ 12,000 \\\hline \text { Equipment } & 88,000 & \\\hline \text { Accumulated Depreciation-Equipment } & & 8,500 \\\hline \text { Accounts Payable } & & 12,000 \\\hline \text { Salaries Payable } & & 2,000 \\\hline \text { Unearned Revenue } & & 25,000 \\\hline \text { Mortgage Payable } & & 100,00 \\\hline \text { Martin, Capital } & & 21,290\\ \hline \text { Martin, Withdrawals } & 25,840 & \\\hline \text { Service Revenue } & & 325,00 \\\hline \text { Salaries Expense } & 63,000 & \\\hline \text { Depreciation Expense—Building and } & & \\\text { Equipment } & 6,250 & \\\hline \text { Supplies Expense } & 15,000 & \\\hline \text { Insurance Expense } & 14,500 & \\\hline \text { Utilities Expense } & 23,000 & \\\hline \text { Total } & \$ 505,790 & \$ 505,790 \\\hline\end{array}$
Prepare the closing entry for expenses.Omit explanation.

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Definitions:

Awareness Training

Educational programs aimed at enhancing understanding of specific issues or topics, such as cybersecurity or diversity.

Needs Analysis Model

A systematic approach for identifying and assessing needs within an organization or system to inform improvements or interventions.

Employee Absenteeism

The frequent absence of an employee from work, beyond normal or expected levels, that can affect business productivity.

Customer Complaints

Feedback from customers expressing dissatisfaction with a product or service.