FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

CashPrepaidRentMerchandiseInventoryAccountsPayableSalariesPayableNotesPayableCommonStockRetainedEarningsni..idminDebitAccountsReceivable$14,0003,00080025,000Credit$4,1005006009,0003,600 What will be the final balance in the corporation's Retained Earnings account after recording the closing entries? A. $16,000 B. $28,600 C. $30,100 D.

image text in transcribed
image text in transcribed
CashPrepaidRentMerchandiseInventoryAccountsPayableSalariesPayableNotesPayableCommonStockRetainedEarningsni..idminDebitAccountsReceivable$14,0003,00080025,000Credit$4,1005006009,0003,600 What will be the final balance in the corporation's Retained Earnings account after recording the closing entries? A. $16,000 B. $28,600 C. $30,100 D. $2.100

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The ASQ Certified Food Safety And Quality Auditor

The ASQ Certified Food Safety And Quality Auditor

Authors: Steven Wilson

4th Edition

1951058186, 978-1951058180

More Books

Students also viewed these Accounting questions

Question

★★★★★
The following information is available for Delta Company as of April 30, 2014: a. Cash on the books as of April 30 amounted to $114,175.28. Cash on the bank statement for the same date was...

Answered: 1 week ago

Question

★★★★★
Flounder Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2022,...

Answered: 1 week ago

Question

★★★★★
9.17 What's Normal? What is normal, when it comes to people's body temperatures? A random sam- ple of 130 human body temperatures, provided by Allen Shoemaker in the Journal of Statistical Education,...

Answered: 1 week ago

Question

★★★★★
Why might an analyst examining variances in the production area look beyond that business function for explanations of those variances?

Answered: 1 week ago

Question

★★★★★
Create an app that display images in thumbnail and high quality. A screen shot of the two-pane app is shown below. On the left pane, a list of options is offered. Each row in the list consists of a...

Answered: 1 week ago

Question

★★★★★
7. Find unear Form of vector when u a, uncat ycvm oe vectov w nen vl Answered: 1 week ago

Answered: 1 week ago

Question

★★★★★
In order to show more reported gains or less reported losses on the income statement, "gains trading" can be accomplished by selling securities classified as ____ with gains or by transferring...

Answered: 1 week ago

Question

★★★★★
A worker in charge of assembling a bicycle finds a faster way to mount the pedals. He turns to his supervisor. The supervisor explains that the process had been optimized by the engineering...

Answered: 1 week ago

Question

★★★★★
Gamma Manufacturing has prepared the following flexible budget for October and it is in the process of interpreting the variances. F denotes a favorable variance and U denotes an unfavorable...

Answered: 1 week ago

Question

★★★★★
What is the role of the customer in service operations? A.) They facilitate collaboration between suppliers B.) They are responsible for majority of fixed costs. C.) They are a supplier of process...

Answered: 1 week ago

Question

★★★★★
A contract to purchase a year of business consulting has a base price of $25,000 but also includes a bonus of $5,000 if the company's performance metrics improve by 10%. Due to the extensive amount...

Answered: 1 week ago

Question

★★★★★
explain the importance of the ACAS Code of practice on disciplinary and grievance procedures (2009)

Answered: 1 week ago

Question

★★★★★
understand the role of human resource managers and line managers in discipline and grievance handling

Answered: 1 week ago

Question

★★★★★
understand the meaning of the terms discipline and grievance

Answered: 1 week ago

Previous Question Next Question