The Following Accounts Appear on Treetop Inc

question 83

Essay

The following accounts appear on Treetop Inc.2014 financial statements.The accounts are listed in alphabetical order,and the balance in each account is the normal balance for that account.All amounts are in millions of dollars.Prepare closing entries for Treetop for 2014.
Cash Dividends Paid $ 104
Cost of Sales and Related Buying and Occupancy Costs 4,317
Credit Card Revenues 325
Income Tax Expense 207
Interest Expense,net 126
Other Income and Expense,net 13
Net Sales 7,172
Selling,General and Administrative Expenses-Credit Segment 275
Selling,General and Administrative Expenses-Retail Stores,
Direct and Other Segments 2,228

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Definitions:

Cultural Background

The cultural experiences, traditions, languages, and values inherited from one's family or society that influence one's worldview and behavior.

Ethnicity

A category of people who identify with each other based on common ancestral, social, cultural, or national experiences.

Social Capital

Personal social networks populated with people who willingly cooperate, exchange information, and build trusting relationships with each other.

Relational

Pertaining to the way in which two or more concepts, objects, or people are connected; often used within contexts involving interpersonal relationships.