Use the Sparrow Sporting Goods Company data in Short Exercise 3-15 to make the companys closing entries

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Use the Sparrow Sporting Goods Company data in Short Exercise 3-15 to make the company’s closing entries at March 31, 2012. Then set up a T-account for Retained Earnings and post to that account. Compare Retained Earnings’ ending balance to the amount reported on Sparrow’s statement of retained earnings and balance sheet. What do you find?

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Financial accounting

ISBN: 978-0132751124

9th edition

Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom

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