Rocky RV Centers accounting records include the following accounts at December 31, 2024. Requirements 1. Journalize the
Question:
Rocky RV Center’s accounting records include the following accounts at December 31, 2024.
Requirements
1. Journalize the required closing entries for Rocky.
2. Determine the ending balance in the Rocky, Capital account.
Transcribed Image Text:
Cost of Goods Sold Accounts Payable Rent Expense Building Rocky, Capital Merchandise Inventory Estimated Returns Inventory Notes Receivable Accumulated Depreciation-Building $372,000 Cash 12,000 Sales Revenue 25,700 Depreciation Expense Building 113,000 Rocky, Withdrawals 198,100 Interest Revenue 238,000 Refunds Payable 1,600 Sales Discounts Forfeited 34,000 Delivery Expense 38,000 $ 47,000 636,500 13,000 58,000 12,000 4,000 2,000 300
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1 2 Ending Balance in Rocky Capital is 379600 198100 239500 58000 Date Dec 31 Accounts ...View the full answer
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Related Book For
Horngrens Accounting The Financial Chapters
ISBN: 9780136162186
13th Edition
Authors: Tracie Miller Nobles, Brenda Mattison
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