From the Following Items in the Income Statement Columns of the Work

question 23

Essay

From the following items in the Income Statement columns of the work sheet of ElKay Corporation at December 31,2010,prepare the closing entries,assuming that a $75 dividend was paid during the period (omit explanations).
$\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$$\quad$ $\quad$$\text {Income Statement }$
$\begin{array} { | l | r | r |} \hline & \text { Debit } & \text { Cradit } \\\hline \text { Service Revenue } & & 1,800 \\\hline \text { Wages Expense } & 1,200 & \\\hline \text { Rent Exgense } & 400 & \\\hline \text { Supplies Exgense } & 200 & \\\hline \text { Income Taxes E Egpense } & 100 & \\\hline \text { Depreciation Expense-Bullding } & 150 & \\\hline & 2,050 & 1,800 \\ \text { Net Loss } & & 250 \\\hline & 2,050 & 2,050 \\\hline\end{array}$

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Definitions:

Major Depression

A mental health disorder characterized by persistently depressed mood or loss of interest in activities, causing significant impairment in daily life.

Generalized Anxiety Disorder

A continuous state of anxiety marked by feelings of worry and dread, apprehension, difficulties in concentration, and signs of motor tension.

Narcissistic Disorder

A mental condition characterized by a long-term pattern of exaggerated self-importance, the need for admiration, and a lack of empathy for others.

Lost Appetite

A decreased desire to eat, which can be caused by various factors including illness, emotional stress, or other conditions.