Question
BE4.3 (LO 1) AP Rizzo Company has the following year-end account balances on November 30, 2021: Service Revenue $38,500; Insurance Expense $2,750; Rent Expense $8,000;
BE4.3 (LO 1) AP Rizzo Company has the following year-end account balances on November 30, 2021: Service Revenue $38,500; Insurance Expense $2,750; Rent Expense $8,000; Supplies Expense $1,500; L. Wilfrid, Capital $42,000; and L. Wilfrid, Drawings $29,000. (a) Prepare the closing entries. (b) Calculate the balance in L. Wilfrid, Capital after the closing entries are posted.
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Financial and managerial accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
1st edition
111800423X, 9781118233443, 1118016114, 9781118004234, 1118233441, 978-1118016114
