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Can anyone help me with this problem? If I made any errors, please correct it. Thank you. F On December 31, 2016, Ditka Inc. had
Can anyone help me with this problem?
If I made any errors, please correct it. Thank you.
F
On December 31, 2016, Ditka Inc. had Retained Earnings of $286,800 before its closing entries were prepared and posted. During 2016, the company had service revenue of $187,100 and interest revenue of $90,800. The company used supplies in the amount of $97,400, advertising expenses were $18300, salaries and wages totaled $21,150, and income tax expense was calculated as S17,500. During the year, the company declared and paid dividends of $7,900. Required: a. Prepare the closing entries dated December 31, 2016. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) view transaction list View general Journal Transaction General Journal Debit Credit 1 187,100 Service Revenue 90,800 Interest Revenue 97,400 Supplies Expense 18,300 Advertising Expense 21,150 Salaries and Wages Expense 17,500 Income Tax Expense 2 7,900 Retained Earnings 7,900 DividendsStep by Step Solution
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