Paloma Company shows the following balances in selected accounts of its adjusted trial balance. Prepare the closing
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Prepare the closing entries at December 31.
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Supplies Supplies Expense Accounts Receivable 2,000 $3 2,000 6,000 Service Revenue $108,000 Salaries and Wages Expense40,000 8,000 18,000 Utilities Expense Dividends Retained Earnings Rent Expense 22,000 70,000
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Dec 31 Service Revenue 108000 Income Summary 108000 To close revenue to income summary Dec 31 In...View the full answer
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Related Book For
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
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