BuyFind

College Accounting (Book Only): A ...

12th Edition
Cathy J. Scott
Publisher: Cengage Learning
ISBN: 9781305084087
BuyFind

College Accounting (Book Only): A ...

12th Edition
Cathy J. Scott
Publisher: Cengage Learning
ISBN: 9781305084087

Solutions

Chapter 5, Problem 2PA

1.

To determine

Indicate the names of owner above the Capital and Drawing accounts.

2.

To determine

Open the T-accounts for owners’ equity, revenue, and expenses and record the account balances.

3.

To determine

Prepare closing entries numbering the entries 1 through 4.

4.

To determine

Post the closing entries to T-accounts.

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