10 BusinessCourse 0 M Beg. Bal. End. Bal. Course Content / Introduction Week 1 Homework: Modules 1 Check Return to course Retained Earnings 0X 0x 0* 0X 0 V 0 x Beg. Bal. 0x OV OV 0 End. Bal. M Depreciation Expense 17,500 17,500 Ov 0 Week 1 Homework: Modules 1 (c) Set up T-accounts for each account and post the closing entries. Note: Only those ledger accounts affected by closing process are shown here. Enter beginning balances in the appropriate answer box. Enter transactions in the T-accounts in the order they appear, using first available answer box on the appropriate side of the T-account. Compute the ending balances. Beg. Bal. End, Bal. MBC Week 1H... mybusinesscourse.com Service Fees Earned 177,500 0 MBC Salaries Expense 92,750 0 177,500 Beg. Bal. 0 End. Bal. 92,750 MBC OV MBC Beg. Bal. End. Bal. Beg. Bal End. Bal. Rent Expense 45,000 OV Dividends 20,000 0 45,000 20,000 0 ADD

(c) Set up T-accounts for each account and post the closing entries. Note: Only those ledger accounts affected by closing process are shown here. - Enter beginning balances in the appropriate answer box. - Enter transactions in the T-accounts in the order they appear, using first avalable answer box on the appropriate side of the T-account. - compute the ending balances. (c) Set up T-accounts for each account and post the closing entries. Note: Only those ledger accounts affected by closing process are shown here. - Enter beginning balances in the appropriate answer box. - Enter transactions in the T-accounts in the order they appear, using first avalable answer box on the appropriate side of the T-account. - compute the ending balances