The following adjusted trial balance is for Wayne Company as of December 31, Year 1:
Required:Using this information:a) Record the closing entries in journal entry format.b) Prepare an income statementc) Prepare a balance sheet
What will be an ideal response?
a) 
Alternative solution:
| Account Titles | Debit | Credit |
| Consulting Revenue | 292,500 | ? |
| Salaries Expense | ? | 180,000 |
| Supplies Expense | ? | 5,850 |
| Insurance Expense | ? | 10,500 |
| Rent Expense | ? | 36,000 |
| Dividends | ? | 7,500 |
| Retained Earnings | ? | 52,650 |
c)
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Which sentence contains a preposition?
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