Paloma Company shows the following balances in selected accounts of its adjusted trial balance Prepare the closing entries at December 31 Supplies Supplies Expense Accounts Receivable 2,000 $3 2,000 6,000 Service Revenue $108,000 Salaries and Wages Expense40,000 8,000 18,000 Utilities Expense Divid...

Dec 31 Service Revenue 108000 Income Summary 108000 To close revenue to income summary Dec 31 In ...

Paloma Company shows the following balances in selected accounts of its adjusted trial balance. Prepare the closing

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Paloma Company shows the following balances in selected accounts of its adjusted trial balance.

Prepare the closing entries at December 31.

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Accounting Principles

ISBN: 978-1119419617

IFRS global edition

Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt

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Question Posted: Mar 29, 2017 11:42 AM

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Paloma Company shows the following balances in selected accounts of its adjusted trial balance. Prepare the closing

Question:

Supplies Supplies Expense Accounts Receivable 2,000 $3 2,000 6,000 Service Revenue $108,000 Salaries and Wages Expense40,000 8,000 18,000 Utilities Expense Dividends Retained Earnings Rent Expense 22,000 70,000

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