Question
Service revenue $300,000; income tax payable $25,000; interest expense $20,000; depreciation expense $100,000; accounts receivable $57,500; salaries expense $110,000; dividends $35,000. Required: Prepare closing entries
Service revenue $300,000; income tax payable $25,000; interest expense $20,000; depreciation expense $100,000; accounts receivable $57,500; salaries expense $110,000; dividends $35,000. Required: Prepare closing entries and determine the net change in retained earnings.
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Financial Accounting An International Introduction
Authors: David Alexander, Christopher Nobe
6th Edition
1292102993, 978-1292102993
