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Klein Photography Adjusting Entries

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Identifying and journalizing closing entries:

The accountant for Klein Photography has posted adjusting entries (a)-(e) to the following selected accounts at December 31, 2012.

(See attatchment)

1.Journalize Klein Photography's closing entries at December 31, 2012.
2.Determine Klein Photography's ending Klein, capital balance at December 31, 2012.

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Solution Summary

Your tutorial shows the adjusting entries, the balances in the nominal accounts from the trial balance, the closing entry to income summary and the closing entry to the capital account.

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  • BSc, University of Virginia
  • MSc, University of Virginia
  • PhD, Georgia State University
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