Examlex
Prepare the closing entries from the following information on the PC Pros Company worksheet income statement columns.
Goods And Services
Refers to the tangible products (goods) and intangible items (services) produced and offered in an economy.
Average Tax Rate
The total tax paid divided by the total income, often expressed as a percentage.
Total Income
The sum of all earnings or revenue generated by an individual or organization, including wages, profits, rents, and investment income.
Total Taxes
The sum of all taxes levied by various governmental entities on individuals or businesses, including income, sales, property, and other taxes.
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