From the following posted T accounts, reconstruct the closing journal entries for December 31, 2014. M. Foster,
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M. Foster, Capital Withdrawals 100 2,000 (Dec. 1) Insurance Expense 50 Closing 50 Net Income 700 M. Foster, Withdrawals Wages Expense 100 Closing 100 100 Closing 100 Rent Expense 200 Closing 200 Income Summary Expenses 600 Revenue 1,300 700 Salon Fees Amortization Expense, Equipment Closing 1,300 1,300 250 Closing 250
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Date 2014 Dec 31 Salon Fees Account Title and Description Income ...View the full answer
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Related Book For
College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker
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