Closing Entries The following information relates to the Wycherly Company Prepare journal entries to close the revenue
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Closing Entries The following information relates to the Wycherly Company
Prepare journal entries to close the revenue and expense accounts to the retained earnings account.
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Sales revenue Interest revenue Wycherly Company Income Statement For the Year Ended December 31, 2009 $ 906,000 23,000 $ 929,000 (450,000) (140,000) $339,000 (135,600) $ 203,400 Net revenue Cost of goods sold Selling and administrative expenses Income before taxes Income tax expense Net income
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Related Book For
Accounting Concepts And Applications
ISBN: 9780324376159
10th Edition
Authors: W. Steve Albrecht, James D. Stice, Earl K. Stice, Monte R. Swain
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