Imex Services Co, offers its services to individuals desiring to improve their personal images. After the accounts
Question:
Imex Services Co, offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted or March 31, the end of the fiscal year, the following balances were taken from the ledger of Imex Services Co.
Journalize the four entries required to close theaccounts.
Transcribed Image Text:
Retained Eamings S300,000 Rent Expense 15,000 Supplies Expense 180,000 Miscellaneous Expense S40,000 Dividends 20,000 7,500 Fees Eamed
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Mar 31 Fees Earned 180000 Income Summary 180000 31 Income ...View the full answer
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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