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Prepare closing entries at december

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The following information is from the Income Statement of Whispering Winds's Halloween Pop-up Rental Shop for the year ending October 31, 2022:

Service Revenue $11,020

Expenses Salaries and Wages expense $3,900

Rent Expense 1,344

Depreciation Expense 2,394

Miscellaneous Expense 324

Total expenses 7,962

Net Income $3,058

Problem 1: This is Whispering Winds's ?rst year in business. Whispering Winds's distributed dividends of $2,900 during the period. Prepare closing entries at December 31, 2022.

Reference no: EM132826169

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