Landers Manufacturing prepares the following three closing entries at the end of the year Required Identify the potential error(s) in Landers ' closing entries 1 Retained Earnings 45,550 Service Revenue 45,550 2 Retained Earnings 39,200 Advertising Expense Rent Expense Salaries Expense Supplies Exp...

1 This entry is backward The correct entry would be Retained Earnings 45 ...

Landers Manufacturing prepares the following three closing entries at the end of the year: Required Identify the

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Landers Manufacturing prepares the following three closing entries at the end of the year:

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Identify the potential error(s) in Landers' closing entries.

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Financial ACCT2

ISBN: 978-1111530761

2nd edition

Authors: Norman H. Godwin, C. Wayne Alderman

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Question Posted: Jul 16, 2015 02:17 AM

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Landers Manufacturing prepares the following three closing entries at the end of the year: Required Identify the

Question:

#1 Retained Earnings 45,550 Service Revenue 45,550 #2 Retained Earnings 39,200 Advertising Expense Rent Expense Salaries Expense Supplies Expense 10,400 4,500 18,800 4,500 #3 Retained Earnings 2,000 Dividends Payable 2,000

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Financial ACCT2

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