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Prepare closing entries for homer winslow co on december 31

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Reference no: EM13578375

Presented below are selected account balances for Homer Winslow Co. as of December 31, 2014.

Inventory 12/31/14
$60,180
Cost of Goods Sold
$225,870
Common Stock
75,870
Selling Expenses
17,400
Retained Earnings
48,850
Administrative Expenses
39,150
Dividends
19,080
Income Tax Expense
30,180
Sales Returns and Allowances
13,650



Sales Discounts
15,290



Sales Revenue
411,940



 

Prepare closing entries for Homer Winslow Co. on December 31, 2014. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

Reference no: EM13578375

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