Ruback Company had Service Revenue of $155,000, Wages and Salaries Expense of $65,000. Rent Expense...
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Ruback Company had Service Revenue of $155,000, Wages and Salaries Expense of $65,000. Rent Expense of $15,000, Utilities Expense of $8,000 and Dividends of $5,000. Prepare the entries to close a) Revenues to Income Summary, b) Expenses to Income Summary and c) Net Income/ Loss to Retained Earnings
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