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5. please do all numbers! The following financial information was taken from the books of Zone Health Club, a small spa and fitness club: Account
5. please do all numbers!
The following financial information was taken from the books of Zone Health Club, a small spa and fitness club: Account Balances as of December 31, Year 2 Accounts receivable Accounts payable Salaries payable Cash Dividends Operating expense Prepaid rent Rent expense Retained Earnings 1/1/Year 2 Salaries expense Service revenue Supplies Supplies expense Common stock Unearned revenue Land $ 27,600 7,660 11,200 42,500 5,000 2,220 3,500 7,300 18,700 30, 300 70,410 590 2,780 20,900 6,820 13,900 Required a. Prepare the journal entries necessary to close the temporary accounts at December 31, Year 2, for Zone Health Club. b. What is the balance in the Retained Earnings account after the closing entries are posted? Complete this question by entering your answers in the tabs below. Journal entry worksheet Step by Step Solution
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