Quiz 3 Answers

Quiz 3 Answers - Show below the closing entry for the month...

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Name ___________________________ USC ID# _________________________ QUIZ 3 Your accountant has prepared the following trial balance after all adjusting entries have been made and financial statements prepared, but he does not know how to prepare the closing entry for the month.
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Unformatted text preview: Show below the closing entry for the month in journal entry format. Service revenue 65,000 Salary expense 24,000 Supplies expense 2,000 Insurance expense 750 Depreciation expense 15,000 Income tax expense 7,000 Retained earnings 16,250 PLUG number to balance Page 1 of 1...
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This note was uploaded on 04/01/2012 for the course BUAD 280 taught by Professor Wan during the Fall '11 term at USC.

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