The income statement of Health 24 City Club for the month ending August 31 shows Membership Dues
Question:
The income statement of Health 24 City Club for the month ending August 31 shows Membership Dues Revenues of $25,000; Salaries Expense of $9,300; Repairs and Maintenance Expense of $2,400; and Net Income of $6,950. Prepare the entries to close the revenue and expense accounts, and complete the closing process for these accounts using the three-column form of account.
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August 31 Membership Dues Revenue 25000 Income Summary 25000 August 31 Income Summary 11700 Salarie...View the full answer
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Related Book For
Hospitality Financial Accounting
ISBN: 978-0470083604
2nd Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Agnes L.
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