On October 31, 2014, the balances of the accounts appearing in the ledger of Acorn Interiors Company,
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Prepare the October 31, 2014, closing entries for Acorn InteriorsCompany.
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Accumulated Depr-Building Administrative Expenses Building Capital Stock Cash Cost of Merchandise Sold Dividends Interest Expense Merchandise Inventory Notes Payable Retained Earnings 125,000 105,000 1,375,000 20,000 13,000 3,000 140,000 23,000 12,000 $142,000 300,000 446,000 Sales 75,000 60,000 Sales Discounts Sales Returns and Allow 650,000 Sl Tax Payable 25,000 10,000 126,000 Selling Expenses Store Supplies Store Supplies Expense
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2014 Closing Entries Oct 31 Sales 1375000 Income Summary 1375000 31 Income Summary 1145000 Admini...View the full answer
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Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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