Side Kicks has year-end account balances of Sales Revenue $808,900, Interest Revenue $13,500, Cost of Goods Sold $556,200, Administrative Expenses $189,000, Income Tax Expense $35,100, and Dividends $18,900. Prepare the year-end closing entries.
Side Kicks has year-end account balances of Sales Revenue $808,900, Interest Revenue $13,500, Cost of Goods Sold $556,200, Administrative Expenses $189,000, Income Tax Expense $35,100, and Dividends $18,900. Prepare the year-end closing entries.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...
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Side Kicks has year-end account balances of Sales Revenue $808,900, Interest Revenue $13,500, Cost of Goods Sold $556,200, Administrative Expenses $189,000, Income Tax Expense $35,100, and Dividends $18,900. Prepare the year-end closing entries.
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