The adjusted trial balance of The GAP, Inc., for fiscal 2013, contains the following selected accounts. Prepare

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The adjusted trial balance of The GAP, Inc., for fiscal 2013, contains the following selected accounts. image text in transcribed

Prepare entries to close these accounts in journal entry form. Set up T-accounts for each of the ledger accounts and post the entries to them. After these entries are posted, what is the balance of the Retained Earnings account?

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Financial And Managerial Accounting For MBAs

ISBN: 9781618533593

6th Edition

Authors: Peter D. Easton

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The adjusted trial balance of The GAP, Inc., for fiscal 2013, contains the following selected accounts. Prepare

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($ millions) Net Sales .. Cost of Goods Sold. Operating Expenses.. Interest Income, net. Income Tax Expense Retained Earnings (beginning of year).. Debit $9,480 4,229 726 6 12,364 Credit $15,651

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Financial And Managerial Accounting For MBAs

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