I need to make closing entries and I am confused as to exactly what form are the closing entries made on? Is it the Trial Balance sheet or the Income Statement? :(

Hello SOSMOM,

Closing Entries.

You are closing your Income Statement accounts.

Dr. Income Summary XXX
Cr. All of your expenses XXX

Dr. Revenue XXX
Cr. Income Summary XXX

Dr. Income Summary XXX
Cr. R/E XXX
That is assuming it's a debit balance in Income summary. If its not, just flip it.

I assume this is for school?

If not, you really don't have to do Income Summary, you could just send it right to R/E

Also, close Dividends to R/E
Dr. R/E XXX
Cr. Dividends XXX

See this webpage for more info: Closing Entries

Quote:

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Originally Posted by SOSMOM

I need to make closing entries and I am confused as to exactly what form are the closing entries made on? Is it the Trial Balance sheet or the Income Statement? :(

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The adjusted trieal balancec