This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: (To close beginning raw materials and work in process inventories and manufacturing cost accounts) Finished Goods Inventory (Dec. 31) Income Summary (To record ending finished goods inventory and close sales account) Income Summary Finished Goods Inventory (Jan. 1) Manufacturing Summary Selling Expenses Administrative Expenses Income Tax Expense (To close beginning finished goods inventory, manufacturing summary, and expense accounts) Income Summary Retained Earnings (To close net income to retained...
View Full Document
This note was uploaded on 12/25/2011 for the course ACCOUNTING ac 202 taught by Professor - during the Fall '11 term at Montgomery.
- Fall '11