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Question: id a use the following worksheet to answer the following...

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ID: A Use the following worksheet to answer the following questions. Finley Company Worksheet For the Year Ended December 31, 2010 Adjusted Trial Income Statement Balance Shect Balance Account Title Debit Credit Debit Credit Debit 48,000 Credit 48,000 18,000 6,000 57,000 Accounts Receivable 6,000 57 Accumulated Depr-Equip Accounts Payable Wages Payable C. Finley, Capital 18,000 30,000 6,000 33,000 18,000 30,000 33,000 3,000 141,000 141,000 Fees Earned Wages Expense Rent Ex 63,000 18,000 18,000 iation Expense Totals 228,000 228,00096,000 14000 132,000 87,000 0 47. The journal entry to close revenues would be: a. debit Income Summary $141,000, credit Fees Earned $141,000 b. debit C. Finley, Capital $141,000, credit Fees Earned $141,000 debit Fees Earned S141,000; credit Income Summary $141,000 c. d. credit Fees Earned $141,000; credit C. Finley, Capital $141,000 Based on the preceding trial balance, the entry to close expenses would be: a. Wages Expense 48. 63,000 18,000 Depreciation Expense 15,000 Rent Expense b. Expenses c. Wages Expense Income Summary 96,000 96,000 Income Summary96,000 Rent Expense 18,000 Depreciation Expense 15,000 C. Finley, Drawing 96,000 d. Income Summary 96,000 Wages Expense 63,000 Rent Expense Depreciation Expense 15,000 18,000
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