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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 28
Journalizing closing entries
It is December 31 and time for you to close the books for Brett Tilman Enterprises.
Requirement
1. Journalize the closing entries for Brett Tilman Enterprises:
a. Service revenue, $20,600.
b. Make a single closing entry for all the expenses: Salary, $7,200; Rent, $4,500; Advertising, $3,400.
c. Income summary.
d. Dividends, $3,800.
It is December 31 and time for you to close the books for Brett Tilman Enterprises.
Requirement
1. Journalize the closing entries for Brett Tilman Enterprises:
a. Service revenue, $20,600.
b. Make a single closing entry for all the expenses: Salary, $7,200; Rent, $4,500; Advertising, $3,400.
c. Income summary.
d. Dividends, $3,800.
Explanation
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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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