Prepare closing entries for December (omit explanations)from the following Income Statement columns of the work sheet of Kemp Corporation,assuming that a $1,000 withdrawal was made during the period.
Definitions:
Gay-Straight Alliance
A student-led or community-based organization, typically in a high school or college setting, that is intended to provide a safe and supportive environment for LGBTQ+ people and their allies.
Well-Being
Being in a state where one experiences comfort, healthiness, or happiness.
Racial
Pertaining to race, which encompasses classifications of humans based on physical and genetic characteristics.
Ethnic Minority
A group of people who differ in race or ethnicity from the majority population of a country or region. They may have different cultural, linguistic, or religious characteristics.
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