Answer:
fees earned 116,400 debit
        income summary         116,400 credit
--to close revenues account--
Income summary   81,050 debit 
Wages Expense               29,000 credit
Rent Expense                   43,000 credit
Supplies Expense               7,300 credit
Miscellaneous Expense      1,750 credit
-- to close expenses accounts--
Income summary   5,000 debit 
         Dividends              5,000 credit
-- to close dividends accounts--
Income summary   30,350 debit 
         Dividends              30,500 credit
-- to close income summary account--
Explanation:
- on accounting we close the temporary accounts which are:
- revenues
- expenses
- dividends
To do so, we will use an auxiliary account called income summary.
Once we close this we calculate the blaance of income summary using a T-account:
income summary
<u>debit        credit  </u>
81,050   116,400
  5,000
Balance: 30.350
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And close it as well against retained earnings