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D Question 34 1 pts A company has the following account balances. They are now doing their closing entries. This company uses an income
D Question 34 1 pts A company has the following account balances. They are now doing their closing entries. This company uses an income summary account to close the accounts, then income summary gets closed into retained earnings. After the closing process is complete, what is the balance of ending retained earnings? (you should assume that the balances given are the "normal" balances for the account - as far as whether the amount listed is a debit or credit). Supplies Expense 2,619 Service Revenue 47,430 Accounts Payable 9,173 Salaries Expense 11,721 Dividends 1,449 Equipment 69,179 Accumulated 20,624 Depreciation Depreciation Expense 4,169 Retained Earnings 109,735
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