Use the following income statement for the year 2010 for J. Waters Company to prepare entries to close the revenue and expense accounts for the company.
SO: 2, Bloom: AN, Difficulty: Medium, Min: 5, AACSB: Analytic, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: Problem Solving, IMA: FSA

Question

Use the following income statement for the year 2010 for J. Waters Company to prepare entries to close the revenue and expense accounts for the company.  
SO: 2, Bloom: AN, Difficulty: Medium, Min: 5, AACSB: Analytic, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: Problem Solving, IMA: FSA

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The Answer of Use the following income statement for the year 2010 for J. Waters Company to prepare entries to close the revenue and expense accounts for the company.  
SO: 2, Bloom: AN, Difficulty: Medium, Min: 5, AACSB: Analytic, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: Problem Solving, IMA: FSA

Use the Following Income Statement for the Year 2010 for J