Requirements 1. Using the following selected accounts of Juba Electrical, Inc., at September 30, 2010, prepare the entity’s closing entries:

2. What is Juba Electrical’s ending Retained Earnings balance at September 30, 2010?

Transcribed Image Text:

Common Stock. $17,000 Accounts Receivable $14,000 Service Revenue 49,000 Retained Earnings. 7,900 Unearned Revenues 2,500 Salary Payable....... 700 Salary Expense..... 21,900 Depreciation Expense.. 5,000 Accumulated Depreciation.......... 32,600 Building Rent Expense. 5,600 Supplies Expense. 2,300 Dividends..... 14,000 Interest Revenue. 300 Supplies..... 2,300 Interest Expense 2,400