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ABC has the following balances on December 31 prior to closing entries: Revenues $35,000 Retained Earnings, Jan. 1 10,000 Cash 7,000 Expenses 23,000 Accounts Payable
ABC has the following balances on December 31 prior to closing entries: Revenues $35,000 Retained Earnings, Jan. 1 10,000 Cash 7,000 Expenses 23,000 Accounts Payable 4,000 Dividends 1,000 Supplies 18,000
Based upon the balances above, what net adjustment would be made to Retained Earnings due to closing entries? An Increase of
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Auditing Investments
Authors: Barbara Davison
1st Edition
0894134272, 978-0894134272
