Professional Documents
Culture Documents
Closing Entries
REAL ACCOUNTS balances that continue
into the next fiscal period
HOW DO WE DO THIS?
1.
2.
3.
4.
Journal
Dec 31Shipping Revenue
213821
Income Summary213821
Journal
Dec 31
Income Summary
146984.91
3500
Journal
Dec 31 Income Summary
P. Lovett, Capital
66836.09
66836.09
Journal
Dec 31 P. Lovett, Capital
P. Lovett, Drawings
42000
42000
Homework
Page 252 - #11 & #12