Question: The year end adjusted trial balance of the Timmons Tool and

The year-end adjusted trial balance of the Timmons Tool and Die Corporation included the following account balances: retained earnings, $220,000; sales revenue, $850,000; cost of goods sold, $580,000; salaries expense, $180,000; rent expense, $40,000; and interest expense, $15,000. Prepare the necessary closing entries.


View Solution:


Sale on SolutionInn
Sales4
Views598
Comments
  • CreatedJune 24, 2013
  • Files Included
Post your question
5000