Question No.2 Details OMR Details OMR Cost of goods sold 385,000 Retained Earnings (Beginning) 39,000 Accounts payable 17,000 Cash 43,000 Rent expense 21,000 Sales revenue 696,000 Building 108,000 Depreciation expense 12,000 Capital 208,000 Dividend 61,000 Inventory 261,000 Sales discounts 9,000 Interest Revenue 10,000 Interest expenses 5,000 Suhail Bahwan Automobiles LLC, reported the following figures in its financial statements: Journalize the required closing entries for Suhail Bahwan Automobiles LLC for December 31, 2017 Show Statement of retained Earnings.
Question No.2 Details OMR Details OMR Cost of goods sold 385,000 Retained Earnings (Beginning) 39,000 Accounts payable 17,000 Cash 43,000 Rent expense 21,000 Sales revenue 696,000 Building 108,000 Depreciation expense 12,000 Capital 208,000 Dividend 61,000 Inventory 261,000 Sales discounts 9,000 Interest Revenue 10,000 Interest expenses 5,000 Suhail Bahwan Automobiles LLC, reported the following figures in its financial statements: Journalize the required closing entries for Suhail Bahwan Automobiles LLC for December 31, 2017 Show Statement of retained Earnings.
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter1: The Role Of Accounting In Business
Section: Chapter Questions
Problem 1.4.1MBA: Return on assets The following data (in millions) were adapted from recent financial statements of...
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