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At the end of the month, Big Cow Cabanas makes adjusting entries and generates an adjusted trial balance. The adjusted trial balance shows: Cash 30,000
At the end of the month, Big Cow Cabanas makes adjusting entries and generates an adjusted trial balance. The adjusted trial balance shows: Cash 30,000 450 Supplies Land Note payable 92,000 16,200 Common stock 23,200 Retained earnings 78,220 6,200 Service revenue Insurance expense 650 Rent expense 720 For the month, what is the company's net income? $ [ Select] To close the books, the temporary (income statement) accounts must be closed; that is, reset to zero. Select the correct journal entries to complete this closing process, assuming that we use the income summary method: To close the books, the temporary (income statement) accounts must be closed; that is, reset to zero. Select the correct journal entries to complete this closing process, assuming that we use the income summary method: [ Select ] $6,200 [ Select ] $6,200 [ Select ] $6,200 [ Select ] $650 [ Select ] $720 [ Select ] $4,830 [ Select ] $4,830 After making the closing entries above, what is the company's balance in retained earnings? $ [Select ] After making the closing entries above, what is the company's balance in retained earnings? $ [Select ] After making the closing entries above, what is the total amount of assets on the company's balance sheet? $ [ Select]
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