Tiger Inc. has the following year-end account balances: Sales Revenue $928,900; Interest Income $17,500; Cost of Goods

Question:

Tiger Inc. has the following year-end account balances: Sales Revenue $928,900; Interest Income $17,500; Cost of Goods Sold $406,200; Operating Expenses $129,000; Income Tax Expense $55,100; and Dividends $15,900. Prepare the year-end closing entries.

Fantastic news! We've Found the answer you've been seeking!