Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

December 31, Year 2 Accounts receivable Accounts payable Salaries payable Cash Dividends Operating expense Prepaid rent Rent expense Retained earnings, Beginning Salaries expense Service revenue

image text in transcribed
image text in transcribed
December 31, Year 2 Accounts receivable Accounts payable Salaries payable Cash Dividends Operating expense Prepaid rent Rent expense Retained earnings, Beginning Salaries expense Service revenue Supplies Supplies expense Common stock Unearned revenue Land $ 28,900 7,170 11,900 43,100 4,700 2,190 2,500 7,400 18,600 33, 400 73,600 320 2,450 22,100 6,500 13,300 Required a. Prepare the journal entries necessary to close the temporary accounts at December 31, Year 2, for Zone Healt b. What is the balance in the Retained Earnings account after the closing entries are posted? Complete this question by entering your answers in the tabs below. Required A Required B What is the balance in the Retained Earnings account after the closing entries are posted? Retained Earnings, Year 2 Beginning retained earnings Ending retained earnings Journal entry worksheet A B Record entry to close service revenue. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal

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

Step: 3

blur-text-image

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

Foreign Corrupt Practices Act Compliance Guidebook Protecting Your Organization From Bribery And Corruption

Authors: Martin T. Biegelman, Daniel R. Biegelman

1st Edition

0470527935, 978-0470527931

More Books

Students also viewed these Accounting questions