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Journalize the required closing entries for rockwell

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Reference no: EM13529545

Journalizing closing entries-perpetual inventory Rockwell RV Center, Inc.'s accounting records include the following accounts at December 31, 2012:

Cost of goods sold

$385,000

Accumulated depreciation

$ 39,000

Accounts payable

17,000

Cash

43,000

Rent expense

21,000

Sales revenue

696,000

Building

108,000

Depreciation expense

12,000

Retained earnings

64,800

Dividends

61,000

Inventory

261,000

Sales discounts

9,000

Common stock

144,000

 

 

Requirement

1. Journalize the required closing entries for Rockwell RV Center for December 31, 2012.

Reference no: EM13529545

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