Question
Use the following income statement for the year 2015 for Belle Company to a. Prepare entries to close the revenue and b. Expense accounts for
Use the following income statement for the year 2015 for Belle Company to
a. Prepare entries to close the revenue and
b. Expense accounts for the company.
(Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Service revenue $85,000
Expenses:
Salaries and Wages Expense $40,000
Rent Expense 12,500
Advertising Expense 8,700
Total expenses 61,200
Net income (loss) $23,800
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Get StartedRecommended Textbook for
Contemporary Financial Management
Authors: R. Charles Moyer, James R. McGuigan, Ramesh P. Rao
13th edition
1285198840, 978-1285198842
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