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9. Cat's Meow Condos provides pet grooming and boarding services for domestic cats The company has been in existence for 12 years. Condo's adjusted trial
9. Cat's Meow Condos provides pet grooming and boarding services for domestic cats The company has been in existence for 12 years. Condo's adjusted trial balance is as follows At December 31, 2016, Cat's Meow CATS MEOW CONDOS Adjusted Trial Balance December 31, 2016 Debit $64,800 32,000 5,200 360,000 Credit Cash Accounts receivable Prepaid insurance Equipment Accumulation depreciation Accounts payable Common Retained earnings Service fees earned Miscellaneous income Salaries expense Rent expense Insurance expense Depreciation expense Income tax expense Income tax payable $84,000 29,200 162,800 69,000 420,000 8,200 228,000 32,800 7,200 16,800 51,200 24,800 $798.000 $798.000 a. Prepare closing entries in journal entry form using the Income Summary account b. After Cat's Meow Condo's closing entries are posted, what is the balance in the Retained Earnings account? c. Prepare Cat's Meow Condo's post-closing trial balance
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