Lloyd Bookstore shows the following dividends, revenue, and expense account balances before closing: Required: Prepare closing entries.
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Required:
Prepare closing entries.
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Deb Credit Debit Credit Dividends Sales Revenue Cost of Goods Sold 250 Gain on Sale of Land Salaries Expense Utilities Expense Miscellaneous Expenses Income Tax Expense $300 $2,200 $300 130 120 180 1,350
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Closing Entries Dec 31 Sales Revenue 2200 Gain on Sale of Land 300 ...View the full answer
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Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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