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Data Table $ 200 15,600 13,900 5,000 Accounts payable Accounts receivable Accumulated depreciation, equipment Advertising expense Cash Common stock. Current portion of long-term note payable
Data Table $ 200 15,600 13,900 5,000 Accounts payable Accounts receivable Accumulated depreciation, equipment Advertising expense Cash Common stock. Current portion of long-term note payable Depreciation expense-equipment Dividends declared Equipment. 10,000 Interest expense 1,000 Note payable, long term Other assets, long-term .. 7,100 Prepaid expenses 11,200 Retained earnings, 22,000 January 31, 2017 1,500 Salary expense Salary payable... 2,200 Service revenue. 2,100 Supplies. 13,000 Supplies expense 43,000 Unearned service revenue 13,700 27,800 2,000 95,500 6,400 5,000 3,000 The accounts of Meadowbrook Services, Inc., at January 31, 2018, are listed in alphabetical order. (Click the icon to view the accounts.) Read the requirements. Requirement 1. All adjustments have been journalized and posted, but the closing entries have not yet been made. Journalize Meadowbrook's closing entries at January 31, 2018. (Record debits first, then credits. Exclude explanations from any journal entries.) Record the closing entries for Meadowbrook at January 31, 2018. Begin by closing the revenue account. Journal Entry Accounts Debit Credit (1) Jan Date 31 Requirements 1. All adjustments have been journalized and posted, but the closing entries have not yet been made. Journalize Meadowbrook's closing entries at January 31, 2018. 2. A T-account for Retained Earnings has been set up for you. Post to that account. Then calculate Meadowbrook's net income for the year ended January 31, 2018. What is the ending balance of Retained Earnings? 3. Did Retained Earnings increase or decrease during the year? What caused the increase or the decrease
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