Selected accounts for Kennedy Photography at December 31, 2016, follow: Requirements 1. Journalize Kennedy Photographys closing entries

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Selected accounts for Kennedy Photography at December 31, 2016, follow:

Requirements
1. Journalize Kennedy Photography€™s closing entries at December 31, 2016.
2. Determine Kennedy Photography€™s ending Retained Earnings balance at December 31, 2016.

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Horngrens Financial and Managerial Accounting

ISBN: 978-0133866292

5th edition

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

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Question Posted: Jun 12, 2015 10:31 AM

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Selected accounts for Kennedy Photography at December 31, 2016, follow: Requirements 1. Journalize Kennedy Photographys closing entries

Question:

Retained Earnings 60,000 Service Revenue 36,000 7,000 Dividends 23,000 Salaries Expense Supplies Expense 31,600 3,200 1,300 Depreciation Expense Furniture Depreciation Expense-Building 1,700 6,900

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Requirement 1 Date Accounts and Explanation Debit Credit Dec 31 Service Revenue 43000 Income Summ...View the full answer

Horngrens Financial and Managerial Accounting

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