Question
Draft closing journal entries for the following information: The income statement for the Tamarisk, Inc. for the month ended July 31 shows Service Revenue $19,010,
Draft closing journal entries for the following information:
The income statement for the Tamarisk, Inc. for the month ended July 31 shows Service Revenue $19,010, Salaries and Wages Expense $8,430, Maintenance and Repairs Expense $4,120, and Income Tax Expense $1,230. The statement of retained earnings shows an opening balance for Retained Earnings of $24,880and Dividends $1,770.
What is the ending balance in Retained Earnings?
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Intermediate Accounting
Authors: Kin Lo, George Fisher
3rd Edition Vol. 1
133865940, 133865943, 978-7300071374
