Prepare the necessary closing entries based on the following selected accounts. Accumulated Depreciation Depreciation Expense Owner's Capital Owner's Drawings Salaries and Wages Expense Service Revenue $10,000 6,000 20,000 9,000 19,000 40,000

Prepare the necessary closing entries based on the following selected accounts. Accumulated Depreciation Depreciation Expense Owner's Capital Owner's Drawings Salaries and Wages Expense Service Revenue $10,000 6,000 20,000 9,000 19,000 40,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Problem #4
Prepare the necessary closing entries based on the following selected accounts.
Accumulated Depreciation
Depreciation Expense
Owner's Capital
Owner's Drawings
Salaries and Wages Expense
$10,000
6,000
20,000
9,000
19,000
40,000
Service Revenue

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