Financial Accounting
4th Edition
ISBN: 9781259307959
Author: J. David Spiceland, Wayne M Thomas, Don Herrmann
Publisher: McGraw-Hill Education
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Chapter 3, Problem 3.6BP
| FIGHTING ILLINI Income Statement |
||
| Service revenue | $89,700 | |
| Expenses: | ||
| Salaries | $50,000 | |
| Supplies | 10,100 | |
| Rent | 8,500 | |
| Delivery | 4,700 | 73,300 |
| Net income | $16,400 | |
Required:
1. Record year-end closing entries.
2. Prepare a post-closing
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Preparing and Analyzing Closing Entries
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Chapter 3 Solutions
Financial Accounting
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