The Collins Corporation shows the following inventory, dividends, revenue, and expense account balances before closing: Required Prepare
Question:
The Collins Corporation shows the following inventory, dividends, revenue, and expense account balances before closing:
Required
Prepare closingentries.
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Debit Credit Debi Credit $300 Dividends distributed 250 Sales revenue Sales returns Cost of goods sold 1,350 Gain on sale of land Utilities expense Income tax expense $2,400 Salaries expense $300 130 Miscellaneous expenses 120 180 200 ali
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Dec 31 Sales Revenue 2400 Gain on Sale of Land 300 Income Summary 2700 Dec 31 Income ...View the full answer
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Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
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Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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