Prepare the closing entries from the following selected accounts from the records of North Shore, Inc., at
Question:
Prepare the closing entries from the following selected accounts from the records of North Shore, Inc., at December 31, 2018:
How much net income did North Shore earn during 2018? Prepare a T-account for Retained Earnings to show the December 31, 2018, balance of Retained Earnings.
Transcribed Image Text:
Cost of services sold. . Accumulated depreciation... Selling, general, and administrative expenses.. Retained earnings, December 31, 2017.. Service revenue.. . Depreciation expense Other revenue Dividends declared. . Income tax expense. Income tax payable.. $14,400 41,400 $31,700 4,600 100 500 6,400 800 2,500 ............ 400
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Journal DATE ACCOUNT TITLES DEBIT CREDIT Closing Entries Dec 31 Service Revenue 31700 Other Re...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
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