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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535 Exercise 42
Closing the accounts of a merchandiser
From the following list, identify the accounts that should be closed to Income Summary at the end of the fiscal year under a perpetual inventory system: (A) Accounts Payable, (B) Advertising Expense, (C) Cost of Goods Sold, (D) Dividends, (E) Inventory, (F) Sales, (G) Supplies, (H) Supplies Expense, (I) Wages Payable.
From the following list, identify the accounts that should be closed to Income Summary at the end of the fiscal year under a perpetual inventory system: (A) Accounts Payable, (B) Advertising Expense, (C) Cost of Goods Sold, (D) Dividends, (E) Inventory, (F) Sales, (G) Supplies, (H) Supplies Expense, (I) Wages Payable.
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Identify the accounts that should be clo...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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