The worksheet for Adams Company shows the following in the financial statement columns. J.Q.Adams, Drawing.... $22,000 J.Q.Adams,

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The worksheet for Adams Company shows the following in the financial statement columns.
J.Q.Adams, Drawing.... $22,000
J.Q.Adams, Capital.... 70,000
Net income....... 29,000
Prepare the closing entries at December 31 that affect owner’s capital.

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Accounting Principles

ISBN: 978-0470533475

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Sep 20, 2011 07:56 AM

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The worksheet for Adams Company shows the following in the financial statement columns. J.Q.Adams, Drawing.... $22,000 J.Q.Adams,

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Accounting Principles

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