Answered step by step
Verified Expert Solution
Question
1 Approved Answer
balance in retainer earnings at December 31? help pls!! i can do everything but that Closing Entries The adjusted trial balance prepared as of December
balance in retainer earnings at December 31? help pls!! i can do everything but that Closing Entries The adjusted trial balance prepared as of December 31, for Phyllis Howell & Company. Consultant, contains the following revenue and expense accounts: Debit Credit Service Fees Eamed 1100 21.600 46.500 Supplies pense Depreciation Expense 11,000 Retained Earnings 67.100 Dividends 9800 Prepare journal entries to dose the accounts directly to Retained Earnings. After these entries are posted, what is the balance in the Retained Earnings account Date Description Dec 31 Service Fees and Debit 11.100 1100 Todose the event. Dec 31 Reindring dans 21 Saries Experne 6450 Depreciation Expense. Todose the expenses De Bened Eames Dividers To cose dividendscount 9.000 2.300 Balance in Retained Carrings at December 315 30.500 M
balance in retainer earnings at December 31? help pls!! i can do everything but that
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started