Answered step by step
Verified Expert Solution
Question
1 Approved Answer
help multistep question On Decernber 3t 2022, Dika incorporated had Retained Earnings of $285,800 before its ciosing entrles were prepared and posted. During 2022 ,
help multistep question
On Decernber 3t 2022, Dika incorporated had Retained Earnings of $285,800 before its ciosing entrles were prepared and posted. During 2022 , the company had servike revenue of $186,100 and interest revonue of $90,300. The company used supplies in the anount of $96,900, ocvertsing expenses wore $18,200, salaries and wages totaled $21,000, and income tax expense was calculated as $17,300. During the yeat, the company doclared and paid dividends of $7,800. Required: a. Preosire the closing entries dated Docomber 31, 2022 b. Enfer the beginning balance into the following T-account for Retained Earnings and post the closing entries. Complete thil question by entering your answers in the tabs below. Prepare the closing entries dated December 31, 2022. (ti no entry is requined for a transaccion/event, select "Wo Joumal Entry Required" In the font accosing fieldi) Journal entry worksheet Record the entry for closing the revenue and expense accounts. Note: Enter debits before credits. Journal entry worksheet Record the entry for closing dividend account. Note: Enter debits before credits: On December 31, 2022, Ditka incorporated had Retained Eamings of $285,800 before its closing entries were prepared and posted. Durting 2022, the campany had service revenue of $186,100 and interest revenue of $90,300. The compary used supplies in the amount of $96,90 d advertising expenses were $18,200, salaries and wages totaled $21,000, and income tax expense was calculated as $17,300. During the yeat, the company dectared and pald dividends of $7,800. Required: a. Prepare the closing entries dated December 31,2022. b. Enter the begining balance into the following T-account for Retained Earnings and post the closing entries. Complote this question by entering your answers in the tabs below. Enter the beginning bolance into the following T-account for Retained Eamings and post the closing entries Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started