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Start by closing revenues. Do not close the expenses or contra-revenue accounts this will be done in the next step. Jun. 30 Clos. 1 Close expenses and any contra-revenue accounts for the period. Close Income Summary. Close Dividends. Prepare Big Papi s multi-step income statement for the year ended June 30 2016. 2. Journalize Big Papi s closing entries. Pearsoncmg. com/api/v1/print/accounting 8/20/2016 5. Suppose Austin Sound had sales of 300 000 and sales returns of 45 000. 3. Prepare a...
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