The Following Is the Adjusted Trial Balance as of December

question 48

Essay

The following is the adjusted trial balance as of December 31,2019 of Brooks Design Studio:
Prepare the closing entry for expenses.Omit explanation.

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Definitions:

Recorded By Credits

Transactions that increase liabilities, equity, or revenue, or decrease assets or expenses, reflected in the accounting records.

Increases

A rise in the value or quantity of something, such as assets, revenue, or profits.

Recorded By Debits

Transactions in accounting that increase assets or expenses and decrease liabilities, equity, and revenue, captured on the left side of an account.

Decreases

A reduction in the quantity, level, or intensity of something, such as expenses, assets, or liabilities.