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The Amounts Below Appeared in the Income Statement and Balance

question 24

Essay

The amounts below appeared in the Income Statement and Balance Sheet columns of a company's December 31 work sheet. In the space provided record the closing entries on December 31 (no explanations are necessary).


Definitions:

Obscure Facts

Information that is not widely known or is hidden from common knowledge.

Inverted Pyramid

The traditional structure of news writing and the writing of news releases.

Organizational Goals

Objectives set by a business or organization to guide operations and decision-making.

5 Ws And H

A basic journalistic principle that covers who, what, when, where, why, and how, guiding comprehensive coverage or investigation of an event or story.

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