Presented below are selected account balances for Alistair Co. as of December 31, 2012. InstructionsPrepare closing entries

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Presented below are selected account balances for Alistair Co. as of December 31, 2012.

Inventory 12/31/12 Common Stock Cost of Goods Sold Selling Expenses Administrative Expenses Income Tax Expense $ 60,000

InstructionsPrepare closing entries for Alistair Co. on December 31, 2012. (Omitexplanations.)

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Intermediate Accounting

ISBN: 978-0470873991

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Authors: kieso, weygandt and warfield.

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Question Posted: Dec 15, 2011 08:40 AM

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Presented below are selected account balances for Alistair Co. as of December 31, 2012. InstructionsPrepare closing entries

Question:

Inventory 12/31/12 Common Stock Cost of Goods Sold Selling Expenses Administrative Expenses Income Tax Expense $ 60,000 $235,700 16,000 38,000 30,000 75,000 45,000 18,000 Retained Earnings Dividends Sales Returns and Allowances Sales Discounts 15,000 390,000 Sales Revenue

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Sales 390000 Cost of Goods Sold 235700 Sales Returns a...View the full answer

Intermediate Accounting

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