Presented below are selected account balances for Alistair Co. as of December 31, 2019. Instructions Prepare closing

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Presented below are selected account balances for Alistair Co. as of December 31, 2019.

$ 60,000 Cost of Goods Sold 75,000 Selling Expenses 45,000 Administrative Expenses 18,000 Income Tax Expense 12,000 Inve

Instructions
Prepare closing entries for Alistair Co. on December 31, 2019. (Omit explanations.)

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Intermediate Accounting IFRS

ISBN: 978-1119372936

3rd edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Question Posted: Nov 23, 2017 08:07 AM

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Presented below are selected account balances for Alistair Co. as of December 31, 2019. Instructions Prepare closing

Question:

$ 60,000 Cost of Goods Sold 75,000 Selling Expenses 45,000 Administrative Expenses 18,000 Income Tax Expense 12,000 Inventory 12/31/19 $235,700 Share Capital-Ordinary Retained Earnings Dividends Sales Returns and Allowances 16,000 38,000 30,000 Sales Discounts 15,000 Sales Revenue 390,000

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Sales Revenue 390000 Cost of Goods Sold 235700 Sales Retur...View the full answer

Intermediate Accounting IFRS

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