closing entries

determine post closing balance in retained earnings

CALD dr Lever Suomission) Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Cheyerine Corp. is provided below. Credit Debit $85,670 31,030 15,580 251,100 107,500 Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense $62,540 135,460 27,020 216,880 7,320 4,250 72,920 1,650 ec. 31 Service Revenue 216880 T Rent Revenue 73201 224200 Income Summary (To close revenue account) Dec. 31 Income Summary 128980 Depreciation Expense 15580 Salaries and Wages Expense IN 107500 Rent Expense 4250 1650 Supplies Expense (To close expense accounts) Dec. 31 Income Summary 95220 952201 Retained Earnings (To close net income to retained earnings) Dec. 31 Retained Earnings 31030 Dividends 31030 Determine the post-closing balance in Retained Earnings. (Post entries in the Retained Earnings Jan. 1 Dec. 31 Bal. Lot Bal. Bal. L 64, 190