After the accounts have been adjusted at April 30, the end of the fiscal year, the...
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After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Twin Trees Landscaping Co.: Oscar Killingsworth, Capital $923,120 Oscar Killingsworth, Drawing 28,000 Fees Earned 634,460 496,300 119,100 44,665 14,890 Wages Expense Rent Expense Supplies Expense Miscellaneous Expense Journalize the two entries required to close the accounts. After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Twin Trees Landscaping Co.: Oscar Killingsworth, Capital $923,120 Oscar Killingsworth, Drawing 28,000 Fees Earned 634,460 496,300 119,100 44,665 14,890 Wages Expense Rent Expense Supplies Expense Miscellaneous Expense Journalize the two entries required to close the accounts.
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To close the accounts at the end of the fiscal year the following entries need to be journali... View the full answer
Related Book For
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
Posted Date:
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