Comador Company's accounting records show an after-closing balance of ($ 16,800) in its Retained Earnings account on
Question:
Comador Company's accounting records show an after-closing balance of \(\$ 16,800\) in its Retained Earnings account on December 31, 2011. During the 2011 accounting cycle, Comador earned \(\$ 12,600\) of revenue, incurred \(\$ 9,700\) of expense, and paid \(\$ 1,400\) of dividends. Revenues and expenses were recognized evenly throughout the accounting period.
Required
a. Determine the balance in the Retained Earnings account as of January 1, 2012.
b. Determine the balance in the temporary accounts as of January 1,2012.
c. Determine the after-closing balance in the Retained Earnings account as of December 31, 2010.
d. Determine the balance in the Retained Earnings account as of June 30, 2011.
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