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XACC 290 Week 5 - E4-17, E4-18, and Closing Entry Questions


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XACC 290 Week 5 Answer Guide

XACC 290 is a grueling 9 week introduction into financial accounting. This fast paced course has students learning the basics of financial statements, the accounting cycle, and journal entries, and much more. Our innovative study guides contain sample papers and assignment/textbook solutions to help you earn better grades. 

What's Included in the XACC/291 Week 5 Study Guide?

  • Detailed Solutions to E4-17, E4-18, and Responses to Closing Entry Questions
  • All Work Shown
  • Textbook: Financial Accounting: Tools for Business Decision Making (6th or 7th edition and WileyPlus).

  • Unlimited Support from ACC Nerd Accounting Experts 

Preview of Answers

Exercise 4-17

Prepare the income statement, retained earnings statement, and classified balance sheet.



Income Statement

August 31, 2012


Service Revenue



Rent Revenue



   Total Revenue



Salaries and Wages Expense




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