Business, 24.09.2020 21:01, ayoismeisalex

Exercise 3-16 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.

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Exercise 3-16 Presented below are selected account balances for Homer Winslow Co. as of December 31...