Question

Using the information from RE3-7, prepare Gold finger’s closing entries for the current year.
In RE3-7
Gold finger Corporation had account balances at the end of the current year as follows: sales revenue, $29,000; cost of goods sold, $12,000; operating expenses, $6,200; and income tax expense, $4,320. Assume shareholders owned 4,000 shares of Gold finger’s common stock during the year. Prepare Gold finger’s income statement for the current year.


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  • CreatedOctober 05, 2015
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