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Compute service revenue and operating expenses

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Side Kicks has year-end account balances of Sales Revenue $808,900; Interest Revenue $13,500;

Cost of Goods Sold $556,200; Administrative Expenses $189,000; Income Tax Expense $35,100; and Dividends $18,900. Prepare the year-end closing entries.

BE3-12 Kelly Company had cash receipts from customers in 2012 of $142,000. Cash payments for operating expenses were $97,000. Kelly has determined that at January 1, accounts receivable was $13,000, and prepaid expenses were $17,500. At December 31, accounts receivable was $18,600, and prepaid expenses were $23,200.

Compute service revenue and operating expenses.

Reference no: EM13553569

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