Prepare closing entries for the following in your working papers. 1. A closing entry must be made
Question:
Prepare closing entries for the following in your working papers.
1. A closing entry must be made for the account Ticket Revenue, which has a balance of $6,000.
2. A business has three expense accounts:
Gas and Oil Expense (balance, $700),
Miscellaneous Expense (balance, $600),
Utilities Expense (balance, $1,800).
The end of the fiscal year is June 30.
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Step by Step Answer:
The basic sequence of closing entries is as follows Debit all revenue accounts and cre...View the full answer
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Dudhat Vaidehi
I tutored mostly elementary school students privately after school and during the summer. We met in their homes or at the public library. I charged an hourly fee, and I provided any necessary materials.
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While my students and I certainly utilized technology and the internet often during our sessions, I never tutored online or for any tutoring company, so am not familiar with the curriculums or methods used in those settings.
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