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College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958 Exercise 13
Journalizing and posting closing entries.
On December 31, after adjustments, The Taylor Family Farm's ledger contains the following account balances.
INSTRUCTIONS
1. Record the balances in the ledger accounts as of December 31.
2. Journalize the closing entries in the general journal, page 4. Use account number 399 for the Income Summary Account
3. Post the closing entries to the general ledger accounts.
Analyze: List the accounts affected by closing entries for the month of December.
On December 31, after adjustments, The Taylor Family Farm's ledger contains the following account balances.
INSTRUCTIONS
1. Record the balances in the ledger accounts as of December 31.
2. Journalize the closing entries in the general journal, page 4. Use account number 399 for the Income Summary Account
3. Post the closing entries to the general ledger accounts.
Analyze: List the accounts affected by closing entries for the month of December.
Explanation
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(1)
The ledger accounts are shown after ...
College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
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