proprietorship ,partnership and limited liabilty companies, Accounting Basics

After adjustments and the closing of revenue and expense accounts at February 28, 2015, the end of the first full year of operations, the income summary account has a credit balance of $90,000, and the drawing accounts have debit balances of $28,000 (Keene) and $30,400 (McKee). Journalize the entries to close the income summary account and the drawing accounts at February 28, 2015. For a compound transaction, if an amount box does not require an entry, leave it blank.
Posted Date: 11/10/2014 2:04:57 PM | Location : Belize







Related Discussions:- proprietorship ,partnership and limited liabilty companies, Assignment Help, Ask Question on proprietorship ,partnership and limited liabilty companies, Get Answer, Expert's Help, proprietorship ,partnership and limited liabilty companies Discussions

Write discussion on proprietorship ,partnership and limited liabilty companies
Your posts are moderated
Related Questions
Beth Clark is an Accounting Manager at Specialty Products Corp.  One afternoon in early January 2012, her boss, Controller Dan Greene, met with her and stated the following, "Beth,

Accountants and others are able to access the home pages of companies to find their annual reports and other information home pages of CPA firms to find employment opportunities an

stpes to be taken prepaing for final accounts

which career to look into when doing those subjects?

A department transferred 7,000 units to the finished goods storeroom during a month. There was no beginning work in process inventory, but 500 units were still in process at the

Q. How to determine inventory cost? To place the proper evaluation on inventory a business must answer the question: Which costs must be included in inventory cost? After that

Difference between SAP MEMORY and ABAP MEMORY?  Ans) SAP Memory: Global, user-related memory that enlarges beyond transaction limits. Access to the SAP memory is through SPA/GPA

Ask 1. What is the organization that is responsible for setting International Financial Reporting Standards? 2. What is the main company that Professor Levine uses for illustratio

Q. Calculate the gross margin percentage? Calculate the gross margin percentage by using the following formula Grossmargin percentage = Grossmargin/Net sales To show th

The Braggs & Struttin' Company produces an engine for carpet cleaners called the "Snooper." Budgeted cost and revenue data for the "Snooper" are given below, depends on sales of 40