Prepare the closing entries from the following selected accounts from the records of Amandas Jewels, Inc. at
Question:
Prepare the closing entries from the following selected accounts from the records of Amanda’s Jewels, Inc. at December 31, 2014:
How much net income did Amanda’s Jewels earn during 2014? Prepare a T-account for Retained Earnings to show the December 31, 2014, balance of RetainedEarnings.
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Cost of services sold... Accumulated depreciation Selling, general, and $32,300 4,500 200 400 510 500 $14,600 Service revenu. 41,200 Depreciation expense Other revenue.... administrative expenses.. 6,000 Dividends declared Retained carnings, Income tax cxpens. December 31, 20132,200 Income tax payable.
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Journal DATE ACCOUNT TITLES DEBIT CREDIT Closing Entries Dec 31 Service Revenue 32 300 Other ...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0133427530
10th edition
Authors: Walter Harrison, Charles Horngren, William Thomas
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