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The Income Statement Columns of the Work Sheet Prepared for Crawford

Question 100

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The Income Statement columns of the work sheet prepared for Crawford Delivery Service at current year-end are shown below.In addition,L.Crawford,Capital had a credit balance of $117,000 and L.Crawford,Withdrawals had a debit balance of $30,000 at year end.Prepare closing journal entries for this company. The Income Statement columns of the work sheet prepared for Crawford Delivery Service at current year-end are shown below.In addition,L.Crawford,Capital had a credit balance of $117,000 and L.Crawford,Withdrawals had a debit balance of $30,000 at year end.Prepare closing journal entries for this company.

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