Question
Exercise 3-16 Presented below are selected account balances for Skysong Co. as of December 31, 2017. Inventory 12/31/17$61,090Cost of Goods Sold$229,771Common Stock74,650Selling Expenses15,967Retained Earnings45,220Administrative Expenses37,979Dividends18,288Income
Exercise 3-16
Presented below are selected account balances for Skysong Co. as of December 31, 2017.
Inventory 12/31/17$61,090Cost of Goods Sold$229,771Common Stock74,650Selling Expenses15,967Retained Earnings45,220Administrative Expenses37,979Dividends18,288Income Tax Expense29,920Sales Returns and Allowances12,148Sales Discounts14,780Sales Revenue416,110
Prepare closing entries for Skysong Co. on December 31, 2017.
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Equity Asset Valuation
Authors: Jerald E. Pinto, Elaine Henry, Thomas R. Robinson, John D. Stowe, Abby Cohen
2nd Edition
