Solution-Prepare the closing entries for the above accounts

Prepare the closing entries for the above accounts

Reference no: EM13513189

The trial balance of Celine's Sports Wear Shop at December 31 shows CLOSING ENTRIES Merchandise Inventory $25,000, Sales $162,400, Sales Returns and Allowances $4,800, Sales Discounts $3,600, Cost of Goods Sold $110,000, Rental Revenue $6,000, Freight-out $1,800, Rent Expense $8,800, and Salaries and Wages Expense $22,000. Prepare the closing entries for the above accounts.

Reference no: EM13513189

Questions Cloud

What is the speed of the block after the bullet exits : A 3.1kg block of wood sits on a table. A 3.0g bullet, fired horizontally at a speed of 370m/s, What is the speed of the block immediately after the bullet exits

Explain the molar enthalpies of neutralization : How would you compare the molar enthalpies of neutralization for a monoprotic acid, a diprotic acid, and a triprotic acid? Write the balanced chemical equations and include molar enthalpy values of each chemical reaction to support your conclusion..

What do you understand by an economic entity : What do you understand by an economic entity Give relevant examples - list FOUR important roles of an accountant within an economic entity.

Voluntary withdrawal is a concern in most organizations : A. Voluntary withdrawal is a concern in most organizations. What makes people unhappy enough to leave their job? How can managers see this coming and work to keep the productive employee?

Prepare the closing entries for the above accounts : Sales Discounts $3,600, Cost of Goods Sold $110,000, Rental Revenue $6,000, Freight-out $1,800, Rent Expense $8,800, and Salaries and Wages Expense $22,000. Prepare the closing entries for the above accounts.

Find how long should you sustain the firing of retro-rocket : You are piloting a spacecraft whose total mass is 1150 kg and attempting to dock with a space station in deep space. Assume for simplicity that the station is stationary, that your spacecraft is moving at 1.15 m/s toward the station, How long shou..

Expecting to be the outcome of their ritual practices : The Article ”In John They Trust” describes a cargo cult in Melanesia. How did such religious practices come about and what is it that people are expecting to be the outcome of their ritual practices? Do we do any thing similar?

Define what type of chemical reaction is taking place : If i add amnonia to 1 mL of copper (II) sulfate solution, and i am observing the mixture turn a darker blue what type of chemical reaction is taking place.

Required to prepare the clubs : Bar Trading Account for the year ended and income and Expenditure Account for the year ended 31 December 2008 and a Balance Sheet as at that date - Required to prepare the Club's - Bar Trading Account for the year ended 31 December 2008.

User Account

All Pages

Prepare the closing entries for the above accounts

Reference no: EM13513189

Reference no: EM13513189

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

You have an accounting intern on staff and have been asked

1 if you had to select between the direct method or the

Questionclark sells an office building in the current year

1 readersnetcom sells books and software over the internet

Determine the present value index for each proposal

What was the company cost of goods sold for the month

A series of monthly cash flows is deposited into an account

Evaluate your argument and citing concepts

Paid 287600 cash plus 11500 in sales tax and 1500 in

Describe how you would deal with his ethical dilemma

Calculate helenes basis in the land

Determine net cash flow from operations

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT