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2 pls answer On December 31, 2022, Ditka incorporated had Retained Earnings of $278,800 before its closing entries were prepared and posted. During 2022, the
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On December 31, 2022, Ditka incorporated had Retained Earnings of $278,800 before its closing entries were prepared and posted. During 2022, the company had service revenue of $179,100 and interest revenue of $86,800. The company used supplies in the amount of $93,400, advertising expenses were $17,500, salaries and wages totaled $19,950, and income tax expense was calculated as $15,900. During the year, the company declared and paid dividends of $7,100. Required: a. Prepare the closing entries dated December 31, 2022. b. Enter the beginning balance into the following T-account for Retained Earnings and post the closing entries: Complete this question by entering your answers in the tabs below. Prepare the ciosing entries dated December 31, 2022. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account fleld.) Prepare the closing entries dated December 31, 2022. (If no entry is required for a transaction/event, select "No Journa in the first account field.) Journal entry worksheet Record the entry for closing the revenue and expense accounts. Note: Enter debits before credits. Prepare the closing entries dated December 31,2022 . (If no entry is required for a transaction/event, select "No Journa in the first account field.) Journal entry worksheet Note: Enter debits before credits Step by Step Solution
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