At the financial years end, prepare the general journal to close out the accounts to the profit

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At the financial year’s end, prepare the general journal to close out the accounts to the profit and loss account in the general ledger and post the journal to the T accounts shown in figure 9.20. image text in transcribed

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Accounting An Introduction To Principles And Practice

ISBN: 9780170403832

9th Edition

Authors: Edward A. Clarke, Michael Wilson

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Question Posted: Feb 23, 2024 03:01 PM

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At the financial years end, prepare the general journal to close out the accounts to the profit

Question:

Balance Balance Balance Advertising 500 Wages 10 000 Interest 2000 Balance Balance Electricity 800 Rent 5 000 Profit and Loss

Step by Step Answer:

Here are the closing journal entries Close Advertising Date Account Ref Debit Credit A...View the full answer

Accounting An Introduction To Principles And Practice

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