Selected accounts for Winslow Inc. as at December 31, 2014, are as follows: Instructions Prepare closing entries
Question:
Instructions
Prepare closing entries for Winslow Inc. on December 31, 2014.
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$ 5,000 22,000 Sales Returns and Allowances 2,000 222,700 31,000 30,000 3,000 390,000 Unrealized Gain or Loss OCI 1,500 $60,000 Sales Discounts Inventory FV-NI Investments FV-OCI Investments Retained Earnings Dividends Accumulated Other Comprehensive Income 17,000 nvestment Income Sales Revenue 11,000 Cost of Goods Sold 5,000 Administrative Expenses 18,000 Income Tax Expense
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Sales Revenue 390000 Investment Income 3000 Cost of Goods Sold 2227...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
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