Data Table Accounts payable Accounts receivable Accumulated depreciation, S 12,800 Interest expense S 1,100 16,200 13,500 5,300 16,100 Note payable, long term Other assets, long-term 7,300 Prepaid expenses equipment Advertising expense Cash Common stock Current portion of long-term 10,900 Retained earnings, 17,000 January 31, 2017 Salary expense Salary payable 13,400 26,600 3,500 94,000 3,000 4,300 3,700 3,300 note payable Depreciation expense-equipment Dividends declared Equipment 1,100 Service revenue 1,100 Supplies 14,000 42.400 Supplies expense Unearned service revenue Print Done Requirements uemaliu saua vdears dosing entieh t Januang1.,21012 1. All adjustments have been journalized and posted, but the closing entries have not yet been made. Journalize Spa View'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 Spa View'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? PrintDone The accounts of Spa View Services, Inc., at January 31, 2018, are listed in alphabetical order EEB (Click the icon to view the accounts.) Read the requirem Requirement 1. All adjustments have been journalized and posted, but the closing entries have not yet been made. Journalize Spa View's closing entries at January 31, 2018. (Record debits first, then credits. Exclude explanations from any journal entries.) Record the closing entries for Spa View at January 31, 2018. Begin by closing the revenue account. Journal Entry Date Accounts Debit Credit (1) Jan 31 Next, close the expense accounts Journal Entry Date Accounts Debit Credit (2) Jan 31 Now close the dividends account. Journal Entry Date Accounts Debit Credit (3) Jan 31 Requirement 2. A T-account for Retained Earnings has been set up for you. Post to that account. Then calculate Spa View's net income for the year ended January 31, 2018. What is the ending balance of Retained Eanings? Post the beginning balance and closing entries to Retained Earnings in the T-account by selecting the respective posting references and then entering the correct amounts. Determine the ending balance. Retained Eamings The net income for 2018 was $ Requirement 3. Did Retained Earnings increase or decrease during the year? What caused the increase or decrease? Retained Earnings during 2018 because decreased increased remained the same net income exceeded dividends. revenues exceeded dividends