For the year ended December 31, a company has revenues of $318,000 and expenses of $196,500. The

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For the year ended December 31, a company has revenues of $318,000 and expenses of $196,500. The company paid $50,400 in dividends during the year. The balance in the Retained earnings account before closing is $82,000.

What of the entries would be used to close the dividends account?

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Modern Advanced Accounting in Canada

ISBN: 978-1259087554

7th edition

Authors: Hilton Murray, Herauf Darrell

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Posted Date: May 14, 2023 11:42 PM

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For the year ended December 31, a company has revenues of $318,000 and expenses of $196,500. The

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The dividends account is a temporary account that is closed at the end of each accoun... View the full answer

Modern Advanced Accounting in Canada

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