Solution-Prepare closing journal entries for thompson

Prepare closing journal entries for thompson company

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Reference no: EM13893816

Data for the closing entries of Thompson Company are shown below.

Factory overhead, debit and credit balance	$216,850
Sales	842,750
Interest revenue	1,400
Cost of goods sold	583,640
Wages expense	102,400
Office supplies expense	3,740
Depreciation expense-office equipment	6,230
Utilities expense-office	5,485
Bad debt expens	2,350
Advertising expense	9,350
Interest expense	8,420
Income tax expense	29,370
Cash dividends	16,000

Prepare closing journal entries for Thompson Company for the year ended December 31.

Reference no: EM13893816

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Prepare closing journal entries for thompson company

Reference no: EM13893816

Reference no: EM13893816

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