The following account balances were taken from Cal Tour Corporations year-end adjusted trial balance (assume these are
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The following account balances were taken from Cal Tour Corporation’s year-end adjusted trial balance (assume these are the company’s only temporary accounts):
Prepare the company’s necessary closing entries.
Transcribed Image Text:
Dividends Service revenue Supplies expense Rent expense Depreciation expense: equipment Salaries expense Income taxes expense $600 19,800 525 3,660 1,200 12,700 615
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Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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