The worksheet for Adams Company shows the following in the financial statement columns. J.Q.Adams, Drawing.... $22,000 J.Q.Adams,
Question:
J.Q.Adams, Drawing.... $22,000
J.Q.Adams, Capital.... 70,000
Net income....... 29,000
Prepare the closing entries at December 31 that affect owner’s capital.
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Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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